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.

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Comments

Neelie78
2021-07-27
Neelie78
?
萌萌孩子
2021-07-27
萌萌孩子
Nice
- ShangJing:
  wee
- ShangJing:
  .
- ShangJing:
  mooon
- ShangJing:
  ily
- ShangJing:
  hi
Acery
2021-07-27
Acery
Naise!
- Muan:
  nice

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