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GE Chief Gives Cautious Outlook for Power Business

May 24,2018 05:41

“This is not going to be a quick fix,” the CEO said in a presentation at the Electric Products Group conference where he highlighted that GE expects flat profits in power business this year and weak demand for turbines in 2019 and 2020. The business is ...and more »


General Electric Co. boss John Flannery warned investors Wednesday that the company’s big power business faces years of pressure and reminded them that major changes at the conglomerate will take some time.
“This is not going to be a quick fix,” the CEO said in a presentation at the Electric Products Group conference. He also declined to commit to the current dividend for 2019, implying that it would be adjusted with major portfolio moves.
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