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GE forecasts higher earnings in 2022 after supply chain woes hit Q4 revenue

GE's shares were down 1.8% at $95.17 in premarket trading.

A painted logo sits over the entrance to a General Electric Co. facility in Medford, Massachusetts (Photo: Reuters)
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A painted logo sits over the entrance to a General Electric Co. facility in Medford, Massachusetts (Photo: Reuters)

Reuters
General Electric Co on Tuesday forecast higher profit and free cash flow this year after reporting stronger-than-expected earnings in the quarter through December.

But the company's revenue in the latest quarter came below Wall Street's estimates, hurt by persistent global supply chain disruptions and uncertainty over whether U.S. production tax credits for onshore wind investments will be extended over the long term.

GE's shares were down 1.8% at $95.17 in premarket trading.

The 2022 estimates are based on the company's new reporting format, which it moved to after selling its jet-leasing business and folding its capital business into its corporate

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 25 2022 | 6:48 PM IST

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