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FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company’s site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo
(Reuters) – General Electric Co said on Tuesday it expects free cash flow from its industrial business to be negative in 2019, mainly due to continuing weakness in its power unit.
GE shares reversed course and were down 7.6 percent at $9.6 in early afternoon trade.
In January, Chief Executive Officer Larry Culp said that he expects industrial free cash flow to weaken in 2019 as it spends on restructuring in its power and renewables divisions, but will increase “substantially” in 2020 and 2021. reut.rs/2u05kcl
Reporting by Rachit Vats in Bengaluru; Editing by Maju Samuel
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