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GE’s stock sinks after earnings beat expectations but FCF missed, and the outlook was a bit downbeat
Shares of General Electric Co. sank 3.2% in premarket trading Tuesday, after the industrial conglomerate reported first-quarter adjusted profit and revenue that beat expectations, but missed on free cash flow and provided a somewhat downbeat outlook. The net loss narrowed to 99 cents a share from $2.61 a share, in the year-ago period. Excluding nonrecurring items, such as restructuring and separation costs, adjusted earnings per share rose to 24 cents from 13 cents, above the FactSet consensus 1
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