GE Soars to 15-Month High as Cash Outlook Buoys Turnaround
- CEO declares a ‘very strong close to the year on cash’
- Fourth-quarter profit climbs on strength in aviation unit
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General Electric Co. soared to a 15-month high after the company said cash from its manufacturing operations is likely to rise in 2020, buoying Chief Executive Officer Larry Culp’s effort to rescue the iconic maker of jet engines and power equipment.
Industrial free cash flow, a closely watched indicator of earnings potential, is projected to climb to as much as $4 billion this year from $2.32 billion in 2019, GE said in an earnings statement Wednesday. Wall Street had been expecting $2.2 billion for this year.