General Electric Co forecast profits for 2019 that were below analysts
(Reuters) – General Electric Co forecast profits for 2019 that were below analysts’ estimates on Thursday, as the company spends to restructure its ailing power business.
Its shares dropped 2 percent in premarket trading, after earlier falling as much as 4 percent following the release of the earnings outlook.
GE forecast adjusted earnings of 50 cents to 60 cents a share for 2019, below analyst expectations of 70 cents, on average.
The U. S. industrial conglomerate said adjusted industrial free cash flow would be between negative $2 billion and zero.
