General Electric Chairman and CEO Larry Culp reached out to the company's shareholders and employees on Thursday, explaining to CNBC's Jim Cramer on "Mad Money" what GE's"reset means."
Culp pointed Cramer to the company's 2019 earnings forecast, released on Thursday morning, as"the plan" to address those problems, he said. His comments came after the first forecast he's given at GE, nearly six months after the company's board of directors appointed Culp as CEO in October. GE announced the company expects 2019 adjusted earnings between 50 cents and 60 cents a share, below the 70 cents a share analysts expected according to Refinitiv.
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:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GE shares rebound as CEO Culp sees power business bouncing back next year: 'Game on'GE shares rose in premarket trading as CEO Larry Culp gave investors an upbeat long term outlook on the company's struggling power business.
Source: CNBC - 🏆 12. / 72 Read more »
Larry Culp struggles to get new GE off the groundThe $90 bln company’s CEO is warning investors to brace for a dismal first quarter and cash flow turning negative this year. His plan to sell more assets and overhaul the troubled power unit could eventually help, but it’s slow going. And a number of risks are out of his control.
Source: Breakingviews - 🏆 470. / 51 Read more »
Barrick Gold CEO: Newmont merger would deliver 'real value' in NevadaJim Cramer talks with Barrick Gold CEO Mark Bristow about his company's bid for Newmont Mining.
Source: CNBC - 🏆 12. / 72 Read more »
GE Just Lifted the Veil on Its Insurance Business. Here’s What Investors Learned.The changes in GE’s insurance unit mirror changes that new CEO Larry Culp has been making across the entire company since his arrival last year.
Source: MarketWatch - 🏆 3. / 97 Read more »
Top GE analyst Tusa holds ground as stock rebounds: 'We see little tangible here'General Electric CEO Larry Culp may be more optimistic about the company's future but Stephen Tusa is warning that GE's turnaround hasn't happened yet.
Source: CNBC - 🏆 12. / 72 Read more »
GE to ‘reset’ this year, start turning around over the next two yearsGeneral Electric Co. confirmed that 2019 will be a “reset” year, with cash flow and its struggling power business the main drags, as the company looks to start its turnaround next year and start growing in 2021.
Source: MarketWatch - 🏆 3. / 97 Read more »
GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
Source: CNBC - 🏆 12. / 72 Read more »