GE CEO Sees Cash Burn of as Much as $4.5 Billion This Quarter

finance.yahoo.com/news/ge-ceo-sees-cash-burn-171626227.html

(Bloomberg) — General Electric Co. said its second-quarter cash burn will worsen to as much as $4.5 billion as the troubled manufacturer struggles to keep its turnaround efforts on pace amid disruptions from Covid-19.

The company’s jet-engine business faces a “slow grind” as travel demand collapses, Chief Executive Officer Larry Culp said at a Bernstein conference Thursday. The company’s forecast that it will consume $3.5 billion to $4.5 billion of its cash reserves compares with the $2.98 billion average of analyst estimates compiled by Bloomberg.

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