Nearly $1 billion of GE earnings was wiped out by coronavirus [CNNMoney.com]
General Electric Company (GE)
Last general electric company earnings: 4/30 04:02 pm
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Source: CNNMoney.com
Nearly $1 billion of GE earnings was wiped out by coronavirus New York (CNN Business) General Electric's turnaround has been disrupted by the coronavirus pandemic. The conglomerate said Wednesday it burned through $2.2 billion of cash during the first quarter as its jet engine business got slammed by a "rapid decline" in global commercial aviation orders in March. GE ( GE ) estimated the health crisis wiped out about $900 million of its earnings and hurt free cash flow by around $1 billion. "The impact from COVID-19 materially challenged our first-quarter results, especially in Aviation, where we saw a dramatic decline in commercial aerospace as the virus spread globally in March," CEO Larry Culp said in a statement. Prior to the crisis, GE was enjoying a comeback driven by efforts to slim down its portfolio, clean up its balance sheet and generate free cash flow by improving its operations. Even GE's critics credited Culp, GE's first ever outsider CEO, with
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GE
Earnings
- 10/22/25 - Beat
GE
Sec Filings
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- GE's page on the SEC website