New York CNN Business — General Electric’s turnaround has been disrupted by the coronavirus pandemic. The conglomerate said Wednesday it burned through $2.2 billion of cash during the first quarter as its jet engine business got slammed by a “rapid decline” in global commercial aviation orders in March. Yet GE’s industrial free cash flow burn rate nearly doubled during the …
New York CNN Business — General Electric warned on Thursday that 2019 will be another brutal year, but CEO Larry Culp vowed to confront the storied conglomerate’s problems “head on.” Dragged down by its beleaguered power division, GE is bracing for up to $2 billion of negative free cash flows from its industrial businesses. GE reiterated in a presentation to …
New York CNN Business — Wall Street is betting the worst may finally be over for General Electric. “It’s a start, but we have much more work to do.” Power problems linger GE Power, which makes turbines used in natural gas and coal power plants has been the company’s biggest problem for years. “Fixing power will take time,” Culp said, …
