GE Shares Plunge On Dismal 2019 Outlook

Original post

Confirming the warnings from last week, GE has issued a 2019 guidance statement that the company expects industrial free cash flow as low as negative $2 billion.

On March 5th, CEO Larry Culp warned that cash flow from GE’s industrial operations will be negative this year as GE grapples with further challenges in its power business and other operational pressures.

Today’s guidance confirms that.

Looking ahead to 2020 and 2021, GE expects adjusted Industrial free cash flows to be positive in 2020, with the pace of improvement accelerating in 2021.

Sees year adj. EPS 50c to 60c, vs. estimate 67c.

Expects power unit free cash flows down in 2019.

Sees GE Capital net

This post is from ZeroHedge. We encourage our readers to continue reading the full article from the original source here.