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General Electric's free cash flow beats estimates, provides 2021 outlook

FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company&a
FILE PHOTO: The logo of US conglomerate General Electric is pictured at the site of the company's energy branch in Belfort, France, Feb 5, 2019. (Photo: REUTERS/Vincent Kessler/File Photo GLOBAL BUSINESS WEEK AHEAD)
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BOSTON: General Electric reported a better-than-expected free cash flow for the fourth quarter on Tuesday (Jan 26) and forecast 2021 cash flow to be about US$2.5 billion to US$4.5 billion, as it benefits from a recovery at its power and renewable energy units.

Adjusted profit for the fourth quarter ended Dec 31 came in at 8 cents per share, compared with Refinitiv's average analyst estimate of a profit of 9 cents per share.

Free cash outflow from industrial operations totaled US$4.37 billion, GE said. The manufacturing conglomerate had previously predicted a cash flow of at least US$2.5 billion in the fourth quarter.

Source: Reuters/kv