GE Orders Drop Amid Weakness for Locomotives, Oil-Field Gear
- Company’s finance chief cites ‘world that’s pretty difficult’
- Earnings, revenue beat analysts’ estimates for second quarter
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General Electric Co. is selling fewer locomotives and less oil-field equipment as global economic uncertainty takes a toll on demand for big-ticket industrial products.
Orders fell 2 percent in the second quarter -- and tumbled 16 percent when stripping out acquisitions and currency effects -- the company said Friday. That drop and weak generation of free cash flow sapped investor confidence and pushed down shares.