EX-99 3 ex99.htm EXHIBIT 99 Form 8-K

Exhibit 99

'03 Earnings Outlook

($B) 2002 Earnings Growth


"Old" 8:1
Basis
New
Basis
'03E 1QE




Commercial Finance $3.2  $3.2  15-20% ~15%
Consumer Finance 1.9  1.8  15-20% ~10%
Equipment Management 0.3  0.3  (5)-5% ~(30)%
Insurance (0.5) (0.1) F     ~Flat   
Corp/Other (0.3) (0.6) 0-10% U    




Total $4.6  $4.6  60-75% 0-5%




 

Commercial and Consumer Up Strong Double Digit

 


First Quarter '03 Dynamics

 

 

1Q V%

 
 
 
 

Revenue

Op Profit/
Net Income

Comments

 


Power

~ (20)%

~ (40)%

As Planned: 33 (Greenville) GT Units 
Termination Fees ~$200 million, Down $100+ million
Restructuring Benefits Ahead of Plan

 

     

Other Long Cycle

5-10%

10-15%

Service Growth & New Products on Plan
Medical Up Double-Digit

 

     

Plastics

5-10%

~ (55)%

Volume & Material Inflation Worse

 

     

Other Short Cycle
(Ex. Olympics)

5-10%

5-10%

Industrial Systems & Specialty Materials
    New Platforms Deliver
NBC Up Double Digit Despite War Impact

 

     

Financial Services

0-5%

0-5%

Comm'l. & Consumer Up Double Digit; ERC Turnaround ... Securitization Down ~$200 million; Tax Rate as Planned; Dividend at 10% Rate

 

  
 

In Tough Environment

  • On Track for 32¢/Share

  • Broad Based Improvement

  • No Change in Total Year Outlook

 


Supplemental Schedule

($ in Millions)

First Quarter 2002

Revenue Op
Profit
-a)


Aircraft Engines $2,577 $421
Power Systems 5,271 1,552
Medical Systems 1,863 266
Transportation 482 53
Eliminations (385 ) --


     Total Long Cycle 9,808 2,292
Less Power Systems 5,271 1,552


     Other Long Cycle $4,537 $740
1Q 2003 V% 5-10 % 10-15

%

 
(a- Earnings Before Interest & Other Financial Charges, Income Taxes & Effects of Accounting Changes

 

($ in Millions)

First Quarter 2002

Revenue Op
Profit
-a)


Plastics $1,179 $207
Specialty Materials 401 47
Appliances 1,414 91
Lighting 540 20
Industrial Systems 1,097 103
NBC 1,998 313
Supply 532 20
GXS 105 5
Eliminations (340 ) --


     Total Short Cycle 6,926 806
Less Plastics 1,179 207


Other Short Cycle 5,747 599
Less Olympics 716 15


     Other S/C Ex. Olympics $5,031 $584
     1Q 2003 V% 5-10 % 5-10

%

 


Supplemental Schedule

($ in Millions)

First Quarter 2002 Revenue

Total Non-Service   Service     Service
1Q'03 V%




Power Systems $5,271 $3,871 $1,400 ~21 %
Medical Systems 1,863 1,006 857 ~19
Aircraft Engines 2,577 1,250 1,327 ~12
Transportation 482 142 340 ~7

 

First Quarter 2002 Revenue

Total Non-Growth
Platform

Growth
Platform

  Growth
Platform
1Q'03 V%




Industrial Systems $1,097 $1,027 $70 ~20% -a) Security
Specialty Materials 401 401 -- ~10   -a) Water
Medical Systems 1,863 1,566 297 ~20   H/C IT
Power Systems 5,271 4,926 345 ~67   Oil & Gas
  
(a- V% Assumes Acquisitions Included in Prior Year Results Since 1/1/02