The manufacturing icon has predicted a cash outflow of between $3.5 billion and $4.5 billion for the second quarter, following a $2.2 billion outflow in the first quarter, as the crisis halts orders and deliveries for clients across the aviation business. Chief Executive Officer Larry Culp said in May the company would do better in the second half of 2020 while admitting that for the full year it would be in negative territory on cashflow. “COVID-19 overnight stalled GE’s turnaround,” said Nicholas Heymann, industrial analyst at brokers William Blair. …read more
Source:: Yahoo Finance
