GE’s power unit will be ‘significantly’ cash flow negative this year: CFO

Written by on May 15, 2019

FILE PHOTO: The logo of US conglomerate General Electric is pictured at the company's site of its energy branch in Belfort
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo

May 15, 2019

NEW YORK (Reuters) – General Electric Co expects its core power-plant business to lose significant cash this year and does not expect large improvement in that business’ cash flow margins for at least three years, the company’s chief financial officer said on Wednesday.

“Power was a very significant negative cash flow generator last year. We expect it to be also significantly negative this year,” CFO Jamie Miller said at an investor conference hosted by Goldman Sachs.

(Reporting by Alwyn Scott; Editing by Phil Berlowitz)

Source: OANN

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