GE has released its earnings report for the fourth quarter of 2012, and despite its 13% year-over-year growth, the company reported a decrease in wind turbine orders.
GE's Q4 operating earnings were $4.7 billion, or $0.44 per share, both up 13% from the fourth quarter of 2011. The company's industrial segment saw a profit increase of 12% to $4.9 billion. GE says orders in its industrial segment were up 7%, ‘excluding the effects of a decrease in wind turbine orders,’ which was likely the result of diminished demand amid last year's policy uncertainty.
The company says its ratio of equipment orders received to orders billed was 1.2 and that its backlog of equipment and services at the end of the quarter was its highest ever, at $210 billion.
More details on GE's fourth-quarter earnings can be found here.