GE soars on free cash flow and new CEO’s turnaround strategy
Its shares jump 7.1% as industrial free cash flow at General Electric is projected to climb to as much as $4bn this year
29 January 2020 - 17:58
New York — General Electric (GE) soared on Wednesday after the company said cash from its manufacturing operations is likely to rise in 2020, buoying CEO Larry Culp’s effort to rescue the iconic maker of jet engines and power equipment.
Industrial free cash flow, a closely watched indicator of earnings potential, is projected to climb to as much as $4bn this year from $2.32bn in 2019, GE said in an earnings statement on Wednesday. Wall Street had been expecting $2.2bn for this year...
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