The earnings season is off to a flying start with equity markets scaling record highs, owing to a slew of upbeat economic data, strong corporate performance and President Donald Trump’s tax reform proposal. However, the performance has been a mixed bag for industrials companies, with some beating market expectations, while a few failed to do so (read: U.S. Fiscal Deficit at 3.5% of GDP: ETFs in Focus).

We will now discuss the performance of a few industrials giants such as General Electric (GE – Free Report) , 3M Company (MMM – Free Report) , Honeywell (HON – Free Report) , Caterpillar Inc (CAT – Free Report) and Union Pacific (UNP – Free Report) (read: 5 Biggest ETF Winners of Trump Trade Resurgence).

General Electric

Shares of General Electric Company declined more than 6.3% on Oct. 23, 2017, as it failed to beat the Zacks Consensus Estimate on earnings. Moreover, the market is bearish on the company as the outlook was revised down.

The company’s revenues of $33.472 billion increased 14.4% in third-quarter 2017 on a year-over–year basis. Moreover, revenues increased 13.2% on a sequential basis and came in above the Zacks Consensus Estimate of $31.921 billion.

General Electric reported non-GAAP earnings per share (EPS) of $0.29 for third-quarter 2017, decreasing 9.3% year over year but increasing 3.6% on a sequential basis. Also, it failed to beat the Zacks Consensus Estimate of $0.49. Moreover, GE lowered its full-year 2017 EPS guidance range to $1.05-$1.10 from $1.6-$1.7 previously.

The company reported earnings from continuing operations attributable to GE common shareowners of $1.9 billion, decreasing from $2.1 billion a year ago. Third-quarter 2017 orders increased 11% to $29.8 billion from $26.9 billion in the year-ago quarter. Moreover, GE’s backlog increased 3% to $328.0 billion from $319.2 billion in the year-ago quarter.

3M Company

Shares of 3M Company increased almost 5.7% at market close on Oct 24, 2017, after it beat the Zacks Consensus Estimate on both earnings and revenues.