GE stock increases as earnings surprise upward and free cash flow is positive

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Last Updated on July 26, 2022 by Bitfinsider

As General Electric (GE) reported an unexpected increase in second-quarter profit and defied expectations for greater cash burn, the company’s stock price increased early on Tuesday. GE stock increased prior to the opening, indicating a rise above a crucial threshold.

FactSet predicted that the industrial icon will report a 6.5 percent EPS fall to 37 cents as year-over-year comparisons become more challenging. The amount of revenue increased by 3.2 percent to $17.457 billion.

GE was projected to lose $806.4 million in cash, a little improvement from the $880 million negative free cash flow in the first quarter. The cash flow of General Electric typically improves in the second half of the year.

Unexpectedly, GE’s earnings increased to 76 cents per share. Income after adjustments increased to $17.88 billion. $162 million in free cash flow defied expectations of a cash burn.

GE provided 2022 projection in April that was at the low end of its prior range, which included EPS of $2.80–3.50 and FCF (free cash flow) of $5.5–6.5 billion.

Before the Q2 surprise, analysts had projected GE earnings to increase by 62 percent to $2.77 for the entire year 2022.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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