GE Sees Coronavirus To Hit Q1 Cash Flow By Up To $500 Mln; Backs 2020 Outlook

(RTTNews) - General Electric Co (GE) anticipates a negative impact to GE Industrial free cash flow of about $300 million to $500 million, as well as a negative impact to operating profit of about $200 million to $300 million in the first quarter of 2020, due to the coronavirus outbreak.

GE also expects to generate about $0.10 in adjusted earnings per share, as well as about negative $2 billion of GE Industrial free cash flow, in the first quarter of 2020. Analysts polled by Thomson Reuters expect the company to report earnings of $0.13 per share for the first-quarter. Analysts' estimates typically exclude special items.

GE reaffirmed its fiscal year 2020 adjusted earnings per share in a range of $0.50 to $0.60. Analysts expect annual earnings of $0.60 per share.

The company also still expects GE Industrial revenues to grow organically in the low-single-digit range, and GE Industrial free cash flow of $2 billion to $4 billion for 2020.