General Electric Stock Higher As Cash Flow Offsets Q3 Profit Miss Golie Mark

Updated at 7:24 am EST

General Electric  (GE)  posted weaker-than-expected third quarter earnings Tuesday, while lowering its full year profit forecast, as supply chain disruptions and cost pressures continue to trim the industrial group’s bottom line.

The stock reversed earlier declines, however, as investors looked to solid overall sales and a reiteration of its forecast for $4.5 billion in full-year free cash flow. 

General Electric said adjusted non-GAAP earnings for the three months ending in September were pegged at 35 cents per share, a figure that was38.6% lower than last year and 11 cents shy of the Street consensus forecast of 46 cents per share. Group revenues, General Electric said, rose 3.6% from last year to $19.1 billion, just ahead of analysts’ estimates of an $18.62 billion tally.

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