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Non-Tech : General Electric (GE)

GE 304.26

-1.4%

Nov 4 3:59 PM EST

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Lance Bredvold

From: E_K_S	5/15/2019 1:23:16 PM
	1 Recommendation of 3256

GE power unit to be 'significantly' cash flow negative this year, CFO says May 15, 2019 12:58 PM ET\|About: General Electric Company (GE)\|By: Carl Surran, SA News Editor General Electric ( GE -0.5%) expects " very significant negative cash flow" from its core power plant business this year and does not anticipate large improvement in the unit's cash flow margins for at least three years, CFO Jamie Miller said today at a Goldman Sachs investor conference. GE expects some power plant orders it booked in Q1 to be spread more throughout the year, Miller said, suggesting the relatively strong quarter did not signal a turnaround in the unit. Some investors see signs of improvement in GE's ailing power business but others see problems; J.P. Morgan's Stephen Tusa says a tally of orders by GWs shows erosion in GE’s market share. Miller also tempered expectations in his comments today, saying GE’s power business would take 2-3 years to work through lingering pension costs, unprofitable contracts and liabilities from the 2015 acquisition of Alstom.

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