General Electric Co. announced it anticipates negative free cash flow from its industrial operations in 2019, primarily attributed to persistent challenges in its power division.
Shares of GE fell 7.6% to $9.6 in early afternoon trading following the announcement.
In January, CEO Larry Culp stated that industrial free cash flow would weaken in 2019 due to restructuring costs in the power and renewables segments, though he projected a 'substantial' increase in 2020 and 2021. reut.rs/2u05kcl
Reporting by Rachit Vats in Bengaluru; Editing by Maju Samuel
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