GE reaffirms 2022 earnings forecast By Reuters
© Reuters. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company’s energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent KesslerGREENVILLE, S.C. (Reuters) – General Electric (NYSE:) Co on Thursday reiterated its 2022 earnings forecast despite inflationary and supply-chain challenges.
Ahead of an in-person investor meeting, the Boston-based industrial conglomerate said it expects to post high-single-digit revenue growth this year on the back of a more than 20% increase in aviation revenue.
Adjusted profit for the year is projected to be in the range of $2.80 per share to $3.50 per share. It also expects to grow its profit margin by 150 basis points and to generate $5.5 billion to $6.5 billion in free cash flow.
The company expects to generate about $10 billion in adjusted operating profit and more than $7 billion in free cash flow in 2023.
“We’re running GE’s businesses better, creating value for shareholders today and tomorrow,” said Chief Executive Larry Culp. “Our stronger balance sheet positions us to deploy capital to invest in growth.”
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