- General Electric Co forecast profits for 2019 that were below analysts’ estimates on Thursday, as the company spends to restructure its ailing power business.
GE forecast adjusted earnings of 50 cents to 60 cents a share for 2019, below analyst expectations of 70 cents, on average. “GE’s challenges in 2019 are complex but clear,” Chief Executive Larry Culp said in a statement that reiterated his priorities of trimming GE’s debt and improving the performance of its industrial businesses, especially the ailing power-plant division.
Investors are looking closely at GE’s cash and earnings after the company lost nearly $23 billion last year.
Positive only in 2021? That means this year will be worst than -$2.9 billion and negative again next year too. Will it be around in 2021 with such a crushing debt load
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Source: CNBC - 🏆 12. / 72 Read more »