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General Electric surges after earnings show strong cash flow and improving profitability

General Electric surges after earnings show strong cash flow and improving profitability

General Electric reports strong earnings.
Hussein Faleh/Getty Images

https://markets.businessinsider.com/stocks/ge-stock?utm_source=markets&utm_medium=ingest


GE stock surged as much as 10% on Tuesday after the company reported strong cash flow and improving profitability.




GE finished the fourth quarter with $4.4 billion in industrial free cash flow, beating its own estimates by nearly $2 billion.




The company continued to struggle with revenue, however, marking a 16% year-over-year drop in the quarter.




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General Electric stock surged as much as 10% on Tuesday before paring gains after the company reported strong cash flow and improving profitability in its fourth-quarter earnings release.GE finished the fourth quarter with $4.4 billion in industrial free cash flow, beating the company's own expectations of $2.5 billion substantially. The strong showing pushed GE's industrial free cash flow into positive territory for the year.GE was also able to improve its industrial profit margin by 800 basis points to 14.4% for the quarter. That leaves GE's annual industrial profit margin at 10%, topping estimates."As 2020 progressed, we significantly improved GE's profitability and cash performance despite a still-difficult macro environment. The fourth quarter marked a strong free cash flow finish to a challenging year, reflecting the results of better operations as well as strong and improving orders in Power and Renewable Energy." GE Chairman and CEO H. Lawrence Culp, Jr. said.
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