GE CEO Flannery says cash flow "horrible" but "not the new normal" [Seeking Alpha]
Churchill Capital Corp V Class A (CCV)
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Source: Seeking Alpha
GE CEO Flannery says cash flow "horrible" but "not the new normal"Perhaps the biggest shock from GE's (GE-2.4%) "unacceptable"Q3 results is the new projection for $7B in cash flow from operating activities, a steep drop from the company's previous view of $12B-$14B.Cash flow for 2017 is "horrible," CEO John Flannery tells CNBC, but it's "not the new normal - $7B is not the new normal. There are a number of steps we are going to take significantly in 2018."The drop in cash flow has raised persistent questions about how GE will fund its dividend, pensions and capital investments; while current cash flow projections may not become the norm, Flannery says GE is looking to balance investing in growth and paying the dividend, adding that investors should think of 2018 as a “reset year.”Q3 operating cash flow was $1.7B, excluding deal taxes and pension plan funding; GE’s liquidity came under scrutiny after the company reported negative $1.6B in industrial operating cash flow in Q1, then rebo
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