GE lifts 2021 earnings forecast By Reuters


© Reuters. FILE PHOTO: The General Electric emblem is pictured on working helmets throughout a go to on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, close to Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo

CHICAGO (Reuters) -General Electric Co introduced an upward revision to its full-year earnings forecast on Tuesday after reporting increased than anticipated third-quarter revenue.

The Boston-based firm now expects 2021 adjusted revenue within the vary of $1.80 to $2.10 per share in contrast with $1.20 to $2.00 per share estimated beforehand.

The industrial conglomerate, nonetheless, mentioned it’s going through a “challenging” working setting together with from world provide chain disruptions and onshore wind market stress due to uncertainty over whether or not manufacturing tax credit might be prolonged over the long run in U.S. President Joe Biden’s infrastructure invoice.

GE mentioned it expects income development, margin growth, and better free money stream subsequent yr. However, it narrowed free money stream estimates for 2021 to $3.75 billion-$4.75 billion from $3.5 billion-$5.0 billion forecast earlier.

Adjusted revenue for the third quarter got here in at 57 cents a share. Analysts on common anticipated GE to report an adjusted revenue of 43 cents per share, in line with Refinitiv information.

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