GE CEO expects cash flow to turn positive in second-half of 2020, shares surge [Reuters]
GE Aerospace (GE)
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Source: Reuters
GE CEO expects cash flow to turn positive in second-half of 2020, shares surge By Rajesh Kumar Singh , Rachit Vats 2 Min Read CHICAGO (Reuters) - General Electric Co's GE.N shares surged on Wednesday after Chief Executive Officer Larry Culp said the industrial conglomerate's free cash flow would turn positive in the second half of this year. The company’s shares, which have fallen about 45.4% so far this year, were last trading up about 11% at $6.77 in afternoon trade. Culp’s comments at a Morgan Stanley Laguna Conference were more upbeat than the outlook GE provided in July, when it expected free cash flow to be better in the second half of the year. Analysts expect GE third-quarter cash outflow to be about $656 million and cash inflow of about $1.17 billion in the fourth quarter, according to Refinitiv data. The Boston-based industrial conglomerate reported cash outflow of $2.1 billion from industrial operations in the second quarter as the coronavirus pandemic pummeled deman
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GE
Earnings
- 4/23/24 - Beat
GE
Sec Filings
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/15/24 - Form 3
- GE's page on the SEC website