GE shares rebound as CEO Culp sees power business bouncing back next year: 'Game on'
General Electric shares rose in premarket trading as CEO Larry Culp gave investors on Thursday an upbeat long term outlook on the company’s struggling power business. “We will have a greater level of negative cash flow in [the power] business this year,” Culp told CNBC’s Morgan Brennan. GE’s power business saw negative cash flow of $2.7 billion in 2018 and Culp warned that “it will be worse” in 2019. But it’s “game on” this year, Culp said, as he aims to get things back on track. “From there will get significantly better in 2020, and we expect positive free cash flow in 2021,” Culp said. GE shares rose 3.8 percent in ... (full story)
- Posted: Mar 14, 2019 12:54pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 8