The last few years have certainly not been kind to GE, which came in as the worst performing stock in the Dow Jones in 2017. On June 19, 2018, GE was dropped from the Dow Jones Industrial Average. The end of the company's more than 100-year run marked the removal of the last remaining original component of the Dow.

As the conglomerate struggles to turnaround by restructuring verticals, spinning-off companies and selling-off business lines, investor confidence remains low and the stock price continues to head south. On October 1, 2018, the company announced that H. Lawrence Culp would replace John Flannery as the GE's Chairman and CEO. Flannery's exit comes just a year after he took over the reins of the company and possibly due to his inability to script a turnaround fast enough. Below are some of the businesses that GE would bank on to write its comeback story.

GE Power

The former bedrock of this industrial giant, GE Power is a wholly owned subsidiary of General Electric and remains the largest business division, although it is currently on a sharp downward trajectory. This is especially true after the sale of GE Capital and the refocusing on core business segments. This division focuses on producing systems to implement power generation from wind, oil, gas, and water to produce electric power.

Interestingly, energy storage solutions were spun off from GE Power in October 2015 into a $1 billion startup called Current, focusing on building better batteries. For 2017, GE reported revenues of $35.9 billion and profit of $2.7 billion. This was well below GE's expectations, with the segment's profits down 45% from the previous year and a whopping 88% from Q4 2016.

GE Aviation

One of the few business segments that has been consistently growing, GE Aviation provides jets, turboprop engines, and designs software used by major aviation corporations. The segment has plans to have 60,000 jet engines connected to the internet by 2020, which they claim will save fuel and create fewer delays at airports. The segment's revenue grew 4% in calendar 2017 to $27.3 billion, with profits of $6.6 billion.

GE Oil & Gas

GE Energy was spun off into three subsidiaries, including the aforementioned GE Power & Water, GE Oil & Gas and GE Energy Connections. GE Oil & Gas, as the fourth-largest revenue generator for GE, focuses on providing smart and efficient solutions to the oil and gas industry. GE is betting that better efficiency in production is what most producers want and it seems to be right, with revenue in calendar 2017 totaling $18.2 billion, up 34% from the previous year.

The company decided to divest its stake in Baker Hughes Oil company that it acquired just a year prior. "GE plans to fully separate its 62.5% interest in BHGE in an orderly manner over the next two to three years," the company said in a press release earlier this year.

GE Renewable Energy

Also known as GE Energy Connections, this energy management division focuses on the distribution, conversion, automation, and optimization of energy sources. By focusing on an area that promotes sustainability and increased efficiency, there is plenty of room to grow. With $10.28 billion in revenues in calendar 2017, this is the GE company to watch in the coming years. The company creates environmentally friendly power solutions with the wind, hydro, and solar tech.

What Does It Mean?

General Electric is not the same company it was just two years ago. It's still a massive conglomerate and is one of the top 10 largest companies in the world, but its renewed focus on its roots in industrial machines and in green energy is keeping the company afloat. The new leadership faces stiff challenges, but will they be able to return GE back to its former glory? That remains to be seen.

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.