General Electric sees 2019 profit below estimates


General Electric sees 2019 profit below estimates

General Electric forecast adjusted earnings of 50 cents to 60 cents per share in its 2019 outlook on Thursday, below analysts’ expectations of around 70 cents as new Chief Executive Larry Culp ploughs ahead with asset sales and restructuring.

Shares of the company, hammered by tens of billions in write-offs over the past year and one of Wall Street’s worst performing stocks, were down 3.2 percent at $9.70 in premarket trading.

The U.S. industrial conglomerate, which spooked investors last week by warning of a net cash outflow from its industrial businesses this year, said it expects adjusted industrial free cash flow of between negative $2 billion and flat.  Read More

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