NEW YORK: General Electric Co expects free cash flow to turn positive in the second half of 2020, Chief Executive Officer Larry Culp said at a Morgan Stanley Laguna Conference on Wednesday .
Shares of the company, which have fallen about 45.4 per cent so far this year, were last trading up 10.7 per cent at US$6.75 in afternoon trade.The Boston-based industrial conglomerate reported cash outflow of US$2.1 billion from industrial operations in the second quarter as the coronavirus pandemic pummelled demand in its aviation business.
Analysts expect GE third-quarter cash outflow to be about US$656 million and cash inflow of about US$1.17 billion in the fourth quarter, according to Refinitiv data. Culp said the company's performance in the second half of the year will set the stage for a positive cash flow in 2021 as well.
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