Why GE Power Is Charging Up Again
General Electric (NYSE: GE) was once a power-production powerhouse. Electricity-producing turbines, in fact, were the company's single biggest business as recently as 2017. And then it all unraveled.
A (now-fixed) turbine design flaw prompted would-be power producers to pause their purchase plans. And then clean-burning natural gas power started falling out of favor as more solar power alternatives became readily available. GE's power turbine revenue is now down to about half its peak levels. This sales contraction has taken an even bigger bite out of the company's bottom line.
Investors would be wise to take note of an undercurrent of change going on. It could be an indicator that GE's once-great power business is on the mend.
Source Fool.com
