General Electric Sees Double-Digit EPS Growth

Shares of General Electric

are trading higher in the after-hours following the release of the company's annual update. Currently, shares are higher by 0.97%, trading at $16.58; they ended the session lower by 0.24%, at $16.42. General Electric said that it expects to generate $100 billion in excess cash from 2012 to 2016, as well as industrial profit margins climbing 0.5% in both 2012 and 2013. General Electric CEO, Jeff Immelt, forecasted double-digit earnings growth for the following year, as profit margins are expected to improve. In regards to M&A, he said "I don't really envision a big deal in 2012," he said. "A balanced and disciplined capital allocation is what we are trying to do." In regards to growth, Immenlt said, “The U.S. economy could get better; it could get worse, we're not forecasting." He noted later that "slow growth" is the most-likely scenario. General Electric Company is a diversified technology and financial services corporation. The products and services of the company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.