Pricing pressure hits GE Renewable Energy’s Q3 profit

Pricing pressure hits GE Renewable Energy’s Q3 profit

October 30 (Renewables Now) – The renewable energy arm of US conglomerate General Electric Co (NYSE:GE) saw its third-quarter profit shrink by 72% year-on-year to USD 60 million (EUR 52.8m), even though revenues improved.

The company blamed the decrease on “continued pricing challenges” in the market and lower repowering volumes, according to a press release from Tuesday. The profit margin of the segment fell to 2.1% from 8.7% a year back.

via Renewables Now Pricing pressure hits GE Renewable Energy’s Q3 profit

Trump tariffs and pro fossil fuel plus nuclear policies are starting to work through the system. Guess who is being hurt?

The global warming denier in chief is accomplishing his goal of choking off renewables while helping his toxic buddies in the fossil fuel and nuclear industry thrive.