GE said its full-year results were on track to come in at the low end of predictions it issued in January.
Photo:
Qilai Shen/Bloomberg News
General Electric Co. warned that its business would be pressured by supply-chain disruptions this year after reporting strong quarterly growth for its jet-engine unit as commercial air traffic recovers from a pandemic-fueled decline.
The Boston conglomerate said Tuesday that its full-year results were on track to come in at the low end of predictions it issued in January. The manufacturer continues to face pressure from supply-chain disruptions and rising raw-material and freight costs, and impact from Russia’s invasion of Ukraine.
“As we continue to work through inflation and other evolving pressures, we’re currently trending toward the low end of the range,” CEO
Larry Culp
said.
For 2022,
GE
GE 0.91%
had projected high-single-digit revenue growth, earnings of $2.80 to $3.50 a share and free cash flow of $5.5 billion to $6.5 billion
GE shares slipped 4% in early Tuesday morning trading.
Write to Thomas Gryta at [email protected]
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