REUTERS: General Electric Co said on Tuesday it generated more profit and lost less cash than expected in the first quarter, suggesting an improving outlook under its new leader that sent its shares and bonds higher.
Culp had set low earnings targets in March and warned that GE's industrial cash flow could be negative by as much as US$2 billion. GE took a string of multibillion-dollar writedowns last year, so the slowing in cash outflows in the latest quarter raised hopes that its fortunes have started to improve.
A 1.6 percentage point drop in GE's industrial margins in the quarter is a"stark reminder of the challenges that the company still faces," said Rene Lipsch, lead GE analyst at Moody's. He added that he expects margins to be flat or slightly improved by year-end.Culp has said the 2019"reset" of GE would result in negative cash flow at its most-troubled business, power, through 2020 before turning positive in 2021.
Source: Energy Industry News (energyindustrynews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GE cautious as profit rises, cash burn slows; shares riseGeneral Electric Co reported a more than three-fold rise in quarterly profit on Tuesday, helped by higher sales in its aviation, oil and gas, and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
GE first-quarter profit rises, warns on 737 MAXGeneral Electric Co reported a more than three-fold rise in quarterly profit on Tuesday, helped by higher sales in its aviation, oil and gas, and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US accuses pair of stealing secrets, spying on GE to aid ChinaA former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Latest Cabinet changes set stage for next GE, leadership handoverTHE latest round of Cabinet appointments announced on Tuesday did not turn out to be as eventful as many had expected, with just three people taking on new roles as the clock ticks down to the next general election (GE). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
PM Lee: Country should be ‘mentally prepared’ for possible fake news spreading in next GEThis, he maintained, is the reason why Singapore needs to be ready for this through having defensive measures already installed, including the Protection from Online Falsehoods and Manipulation Act (POFMA)
Source: IndependentSG - 🏆 2. / 72 Read more »
GE profit triples in quarter, warns on 737 MAXGeneral Electric Co reported a more than three-fold rise in quarterly profit on Tuesday, helped by higher sales in its aviation, oil and gas, and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
PM Lee: Heng Swee Keat will bear more political responsibilities and take the lead role in campaigning for the next GEHeng Swee Keat steps into the role of DPM on May 1st, PM Lee says that by the time he is 70 which is within the next term, he hopes to hand his position over to his successor
Source: IndependentSG - 🏆 2. / 72 Read more »
Netizens react with messages of support to LHY and Wei Ling, along with pleas to contest in next GEMany netizens have been vocal with good wishes for the siblings of PM Lee, although one person wrote that he believed that some Singaporeans refrained from commenting on social media “because of the control of freedom of speech in Singapore.”
Source: IndependentSG - 🏆 2. / 72 Read more »
GE cautious as profit rises, cash burn slows; shares riseGeneral Electric Co reported a more than three-fold rise in quarterly profit on Tuesday, helped by higher sales in its aviation, oil and gas, and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
GE first-quarter profit rises, warns on 737 MAXGeneral Electric Co reported a more than three-fold rise in quarterly profit on Tuesday, helped by higher sales in its aviation, oil and gas, and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Texas Instruments revenue, profit beat estimates; shares riseREUTERS: Chipmaker Texas Instruments reported better-than-expected first-quarter profit and revenue on Tuesday, offering hope that a slowdown in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »