GE Capital CLL Unit Q4 Profit More than Doubles
GE Capital reported Q4/14 and full-year 2014 revenue of $11.5 billion and $42.7 billion, respectively, up from $11.1 billion, but off from $44.1 billion a year earlier. Finance segment profit of $1.9 billion and $7.0 billion in Q4/14 and full-year, respectively, was down from $2.3 billion (19%) and $8.0 billion (12%) for the same 2013 periods.
GE Capital’s Commercial Lending and Leasing unit (CLL) Q4/14 and full-year 2014 revenues of $3.76 billion and $14.63 billion, respectively, was up from $3.23 billion (16%) and $14.32 billion (2%) a year earlier. CLL segment profit of $549 million and $2.27 billion in Q4/14 and full-year, respectively, was up $263 billion (108.7%) and $1.97 billion (16%) compared to the year-earlier periods.
GE Capital’s segment profit of $7.0 billion represented 28.3% of GE’s total segment profit, which included all industrial businesses, of $24.78 billion. GE Capital ENI (excluding cash and equivalents) of $363 billion at year-end 2014 was down from $380.3 billion at year-end 2013.