GE revenue misses expectations as tangled supply chains take toll

Supply chain challenges led General Electric to miss Wall Street’s expectations for the fourth quarter, in a setback for chief executive Larry Culp’s plan to split the industrial conglomerate into three companies.

GE’s revenue for the final three months of 2021 fell 3 per cent to $20.3bn, compared with a consensus forecast of $21.5bn from analysts polled by Refinitiv.

Its shares dropped 6.8 per cent in morning trading on Tuesday, to levels last seen almost a year ago, before it announced a split designed to unlock value for investors. Culp plans to break up the conglomerate into three public companies focused on healthcare, energy and aviation.

Read More at Financial Times
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