GE lifts full-year free cash flow target on recovery hopes

Reuters2021-07-27

July 27 (Reuters) - General Electric Co lifted its free cash flow forecast for the year on Tuesday, as a recovery in the aviation market is expected to boost demand for the U.S. conglomerate's jet engines and spare parts.

The Boston-based company said it expects 2021 free cash flow to be $3.5 billion to $5 billion, up from its prior forecast of $2.5 billion to $4.5 billion.

GE's aviation unit, usually its biggest cash cow, has been hammered by the COVID-19 pandemic as airlines cut back on flights and grounded aircraft.

But the company said in June it planned for a recovery in the airline market the second half of the year.

Revenue rose to $18.28 billion from $16.81 billion in the quarter ended June 30.

GE reported adjusted profit of 5 cents per share for the quarter, compared with Refinitiv's average analyst estimate of a profit of 3 cents per share.

GE shares surged 3% in premarket trading.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

发表看法
3