GE shares fall after CEO says industrial free cash flow will be negative in 2019 GlobeBusiness
Chief Executive Officer Larry Culp said the power business would face headwinds for “a couple of years,” would not resolve problems with its turbine blades for “a while” and promised to step up restructuring in the business and elsewhere.He said free cash flow in the company’s industrial segment overall would be negative.
In January, he had said investors could expect industrial free cash flow to weaken in 2019 as it spends on restructuring in its power and renewables divisions, and the cash flow would increase “substantially” in 2020 and 2021.
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