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earnings


COVID-19 Weighs on Siemens Gamesa Earnings

Siemens Gamesa Renewable Energy (SGRE) on May 6 said delays to its renewable energy projects, in part due to supply chain disruptions from the coronavirus pandemic, will continue to negatively…


GE, Siemens, Utilities Take Hits From Coronavirus
Lincoln-Project-Combustion-Gas-Turbine-Delivery-Siemens

U.S. power plant operators continue to change procedures at their facilities, including pushing back scheduled maintenance, due to lockdowns and quarantines associated with the coronavirus pandemic. The changes are impacting…


GE Shelves Plans to Spin-Off Digital Business

GE will retain its lucrative digital business—not spin it off, as had been planned—but it will sharpen the division’s focus on four key markets, including electric utilities and power generation,…


FirstEnergy Suffers Steep Losses, Will Close Massive Coal Plant

FirstEnergy Corp. bled $2.64 billion from its competitive businesses over 2017, financial losses exacerbated by marked declines in contract sales, higher operating expenses, and costs associated with asset impairment and…


Siemens Restructures to Bolster Troubled Power and Gas Division

Siemens AG has completed a company reorganization to respond to the "persistently difficult environment" in the global power generation market. The global technology company, which had around 357,000 employees in…