Wall Street

GE posts higher earnings on recovery in aviation industry

Published by
Reuters UK

By Rajesh Kumar Singh and Abhijith Ganapavaram CHICAGO (Reuters) -General Electric Co on Tuesday surprised Wall Street with higher quarterly profit and positive cash flow as recovery in the aviation industry propelled its jet engine business, sending its shares higher in premarket trading. The Boston-based industrial conglomerate reiterated that its full-year results were on track to hit the low end of its forecast due to ongoing supply-chain and inflationary pressures. However, it trimmed the full-year free cash flow forecast by about $1 billion. “Working capital will be pressured as GE prote…

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