General Electric has restated its earnings estimates for 2022, despite the challenges of inflation and the supply chain.
The American industrial group stressed that it expects to record a high single-digit rate of increase in revenue this year due to the increase of more than 20% in aviation revenue.
Adjusted earnings for the year are expected to be $ 2.80-3.50 per share.
It also expects to increase its profit margin by 150 basis points and generate cash flows of $ 5.5-6.5 billion.
The company expects to generate approximately $ 10 billion in adjusted operating profit and more than $ 7 billion in cash flow in 2023.
“We are managing GE’s operations better, creating value for shareholders today and tomorrow,” said CEO Larry Culp.
“Our stronger balance sheet enables us to use funds to invest in growth,” he added.
The meeting with investors comes a few days after the company warned that its profits will be hit in the first half of the year due to persistent supply chain pressures and inflation.
Because of these, in fact, the company’s share has fallen 11% since mid-January.
Source: Capital
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