GE Hit by Steep Decline in Jet-Engine Business

By Thomas Gryta Close Thomas Gryta July 29, 2020 6:52 am ET General Electric Co. GE 2.68% posted a nearly $2 billion quarterly loss as revenue tumbled 24%, hurt by a steep decline in a jet-engine business that has been hobbled by the coronavirus pandemic.

However, GE said it burned through less cash in the June quarter than it had previously warned. The company reported adjusted negative cash flow from industrial operations of $2.1 billion, compared with its projection of negative $3.5 billion to $4.5 billion in May. Analysts were expecting negative cash flow of $3.29 billion, according to FactSet.

GE also said it expects a return to positive cash flow in 2021. The measure is closely watched by investors after troubles in generating cash forced the company to slash its dividend and sell off business units.

I’m afraid I caused this by tweeting about the lousy construction of my new microwave. Oops.

Hell yeah! Fuck the Great Evil!!!!! As a former employee I'll tell anyone who'll listen about their treason and horrendous working conditions.

That is sad

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