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The American industrial conglomerate General Electric reported this Friday a 28% drop of its quarterly revenues, after the weakness of its production activity. 39 Electricity opaque revenues from aviation, crude oil, gas and health care units.
GE has ratified its full-year adjusted earnings per share target of $ 1 to $ 1.07, but has reduced its annual liquidity target to $ 6 billion from $ 6 billion to $ 7 billion . a billion dollars.
Shares of the company fell 49 percent in the last year.
Analysts have said that while investors maintain their interest in GE, many want to see stabilization in units. of energy and capital and better if it is before buying securities.
The losses were aggravated in GE Capital, the financial division, at $ 207 million after the negative result of $ 172 million in the same period of 2017.
D & # 39; On the other hand, the unit's energy production decreased by 58% during the quarter, from $ 994 million to $ 421 million, to 1945,9003, a 26% drop to 7%. $ 400 million.
Earnings from continuing operations attributable to GE's shareholders fell to $ 736 million, or 8 cents per share, in the second quarter ended June 30, compared with a gain of $ 30 million, or 12 cents per paper, for the same period last year.
Total revenue increased to $ 30,100 million from $ 29,100 million.
On an adjusted basis, which excludes certain pension and restructuring costs, the company earned 19 cents a share, up from 21 cents last year.
Analysts calculated that the conglomerate would record an adjusted gain of 17 cents, according to the Thomson Reuters I / B / E / S system, and reduced its estimates after the weak first quarter results.
The experts had forecast an increase in cash flow to convince them that GE could reach a free cash flow target of $ 6 billion to $ 7 billion for the year.
Adjusted free cash flow from industrial operations was $ 258 million for the quarter, compared with a negative $ 1.7 billion in the first quarter.
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