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GE sees improvement in company businesses in H2

By Rajesh Kumar Singh CHICAGO (Reuters) -General Electric Co on Thursday said it expects an improvement across its businesses in the second half of the year despite persistent...
GE sees improvement in company businesses in H2 © Reuters. A traffic light is seen in front of a logo of General Electric at the company's plant in Birr, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann

By Rajesh Kumar Singh

CHICAGO (Reuters) -General Electric Co on Thursday said it expects an improvement across its businesses in the second half of the year despite persistent inflationary and supply chain pressures.

But Chief Financial Officer Carolina Dybeck Happe said the company expects to burn cash in the current quarter despite an improvement in cash flow.

GE's shares were down 1.6% at $71.30 in afternoon trade.

The Boston-based industrial conglomerate last month said it was trending toward the lower end of its full-year earnings forecast, citing fresh COVID-19 pandemic-related lockdowns in China as well as the war in Ukraine.

To mitigate the impact, the company has raised prices for its products and is invoking price escalation clauses in its service contracts. It is also trying to find alternative sources for parts and improve productivity to reduce cost.

While the company has not seen any "material" change in the COVID-19 situation in China, Happe said the measures are expected to result in an improved performance in the second half of the year.

"Nothing is certain in an environment where so much is changing day to day," she told Goldman Sachs (NYSE:GS) Industrials & Materials Conference. "But clearly, we have a path to significant growth in the second half."

The company has projected adjusted profit for 2022 to be in the range of $2.80 to $3.50 per share. It also expects to post high-single-digit revenue growth this year and generate $5.5 billion to $6.5 billion in free cash flow.

Happe said GE expects to generate closer to about 55% of the projected revenue, 65% of operating profit, 75% to 80% of net earnings, and more than 100% of free cash flow in the second half of the year on the back of "significant" growth in aviation and healthcare businesses.

In case full-year earnings do come at the lower end of its estimate, Happe said it would reduce the odds of the company generating more than $7 billion in free cash flow next year.

"It's going to be less of a plus, but we do have a path to $7 billion of free cash flow," she said.

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23-05-2022 11:49:45 (UTC+7)

EUR/USD

1.0590

+0.0030 (+0.28%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (9)

EUR/USD

1.0590

+0.0030 (+0.28%)

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↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (9)

GBP/USD

1.2543

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USD/JPY

127.38

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AUD/USD

0.7089

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USD/CAD

1.2803

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EUR/JPY

134.89

-0.12 (-0.09%)

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EUR/CHF

1.0291

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Gold Futures

1,852.90

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Silver Futures

21.875

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Copper Futures

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Crude Oil WTI Futures

110.85

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110.68

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Natural Gas Futures

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US Coffee C Futures

216.48

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Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

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S&P 500

3,901.36

+0.57 (+0.01%)

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DAX

13,981.91

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FTSE 100

7,389.98

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20,340.10

-377.14 (-1.82%)

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US Small Cap 2000

1,773.27

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IBEX 35

8,484.50

+78.50 (+0.93%)

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BASF SE NA O.N.

48.850

-0.010 (-0.02%)

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Buy

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Bayer AG NA

63.74

+0.34 (+0.54%)

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Allianz SE VNA O.N.

195.58

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Buy

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Adidas AG

172.80

+0.92 (+0.54%)

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Buy

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Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

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Siemens AG Class N

115.08

+2.62 (+2.33%)

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Deutsche Bank AG

9.362

-0.130 (-1.37%)

Summary

Buy

Moving Avg:

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Buy (8)

Sell (1)

 EUR/USD1.0590↑ Sell
 GBP/USD1.2543↑ Sell
 USD/JPY127.38↑ Sell
 AUD/USD0.7089↑ Sell
 USD/CAD1.2803↑ Buy
 EUR/JPY134.89↑ Sell
 EUR/CHF1.0291↑ Sell
 Gold1,852.90↑ Sell
 Silver21.875Sell
 Copper4.3025↑ Sell
 Crude Oil WTI110.85↑ Sell
 Brent Oil110.68↑ Sell
 Natural Gas8.195↑ Buy
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,340.10↑ Sell
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,880/ 6,980
(5/ 5) # 1,772
SJC HCM6,895/ 6,985
(0/ 0) # 1,778
SJC Hanoi6,895/ 6,987
(0/ 0) # 1,780
SJC Danang6,895/ 6,987
(0/ 0) # 1,780
SJC Nhatrang6,895/ 6,987
(0/ 0) # 1,780
SJC Cantho6,895/ 6,987
(0/ 0) # 1,780
Cập nhật 23-05-2022 11:49:47
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RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
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Dầu hỏa 2-K25.16025.660
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WTI$110.88-0.35-0.31%
Brent$113.35-0.46-0.41%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.005,0023.315,00
EUR23.899,8625.238,69
GBP28.277,1029.483,51
JPY176,47186,83
KRW15,8019,25
Cập nhật lúc 11:42:13 23/05/2022
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