GE’s CEO warns of negative industrial cash flow in 2019

  • News Digest
BELFORT

Mar 7, 2019-

General Electric Co’s chief executive surprised investors on Tuesday by forecasting a net cash outflow from its industrial businesses this year mainly due to its ailing power-plant unit, a gloomy outlook that sent shares and bonds tumbling. “Industrial free cash flow will be (in) negative territory,” compared with a positive $4.5 billion last year, CEO Larry Culp said in a webcast interview with JPMorgan analyst Stephen Tusa, a longtime GE bear. The shock remark dealt a fresh blow to GE investors who have watched the conglomerate slash its dividend as it took massive asset write-downs. (REUTERS)

Published: 07-03-2019 12:23

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