(Boursier.com) — General Electric loses ground in pre-session on Wall Street. The US industrial and financial giant now expects full-year profit at the low end of its January guidance ($2.8-$3.5) due to continued supply issues and rising costs freight and raw materials. Over the three months to the end of March, the firm recorded an adjusted EPS of 24 cents, stable over one year, but higher than market expectations (19 cents). Revenues came out at $17.04 billion, in line with the consensus. Revenues from the aviation branch reached $5.6 billion, up 12% organically over one year, while those from the energy division fell by 6%.
The group is also on the right track to split into three separate “investment grade” companies, a plan unveiled last year by the historic firm and which marks one of the most important changes in its existence.
©2022 Boursier.com