GE says coronavirus will hit Q1, 2020 cash flow, but sticks to full-year forecast



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GE says coronavirus will hit Q1, 2020 cash flow, but sticks to full-year forecast

On Wednesday, the 4th of March 2020, the Boston-based American power and utility company, General Electric said that the rapidly spreading coronavirus outbreak would evaporate a handsome chuck of its industrial free cash flow over the first quarter of the year adding the company would be executing a raft of damage-control measures to reach its full-year profit target.

Aside from that, the Boston-based power and utility company had also added that the financial fallouts of the coronavirus outbreak would likely to rub out a sum between $300 million to $500 million from its industrial cash flow as the United States’ leading power and utility industry megalith was bracing for a hit between $200 to $300 from its Q1, 2020, quarterly profit.

Besides, according to General Electric’s Wednesday’s (March 4th) forecast, GE was expecting to generate a Q1, 2020, earnings of 10 cents per share, while the General Electric Chief Executive Larry Culp was quoted saying that the company was expecting to generate an industrial free cash flow between $2 billion to $4 billion in 2020, adding “We decidedly did not take a view and would not necessarily encourage any extrapolations from what we’ve said here in the first quarter simply because what we don’t know outweighs what we do know at this point. It’s a volatile, fluid situation, unpredictable in many respects. ”