GE sticks to 2020 targets, says coronavirus to hit cashflow by up to $500 million
FILE PHOTO: A traffic light is seen in front of a logo of General Electric at the company's plant in Birr, Switzerland June 17, 2019. REUTERS/Arnd Wiegmann/File Photo
- General Electric Co said on Wednesday that it expects a hit of $300 million to $500 million to its first-quarter cash flow from the coronavirus outbreak, while reaffirming its cash and profit targets for the full year. GE had previously set 2020 cash target of $2 billion to $4 billion, while estimating an adjusted profit of 50 cents to 60 cents per share.
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