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GE has 'work to do' in 2019, expects improved performance in 2020, 2021


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GE has 'work to do' in 2019, expects improved performance in 2020, 2021

General Electric Co. expects adjusted EPS to rise to 60 cents from 50 cents in a challenging 2019 and stronger results in the two years to follow.

The U.S. multinational conglomerate, whose shares sank following CEO H. Lawrence Culp Jr.'s announcement of negative cash flow expected in 2019, specified in its full-year outlook that negative adjusted industrial free cash flows could total as much as $2 billion.

The company expects industrial free cash flows to swing positive in 2020 before accelerating in 2021.

GE anticipates industrial-segment organic revenue growth in the low to mid-single digits in 2019.

"We have work to do in 2019, but we expect 2020 and 2021 performance to be significantly better with positive industrial free cash flow as headwinds diminish and our operational improvements yield financial results," Culp said in a statement.