Cash flow from GE's industrial operations will be negative this year as GE grapples with further challenges in its power business and other operational pressures, Chief Executive Officer Larry Culp said Tuesday at an industry conference. That is a sharp drop from 2018, when the maker of gas turbines and jet engines brought in USD 4.5 billion by the closely watched measure.
"We think this is a transformation in the making, but we need to pay the piper," he said. GE is taking steps now to "manage though a challenging time, with an eye toward '20 and '21."
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