, Columnist
It’s Hard to Cheer About GE When Cash Flow Is Cut
In the category that matters most, GE is coming up short.
Still a lot of work to do.
Photographer: Frederic J. Brown/AFP/Getty Images
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General Electric Co.’s earnings are an important reminder that CEO John Flannery still has a lot of work to do.
The embattled industrial giant on Friday reported its first batch of quarterly results since announcing plans to spin off its health-care unit and divest its stake in the Baker Hughes energy business. Its adjusted earnings per share of 19 cents surpassed analysts’ (lowered) expectations. But few GE watchers put much in stock in company-defined earnings numbers at this point, given the still over-the-top degree of adjustments. In the category that matters most — cash flow — GE is coming up short.