- General Electric (GE +0.3%) reaffirms FY 2019 earnings guidance in a new slide presentation, seeing EPS of $0.50-$0.60 vs. $0.59 analyst consensus estimate.
- At an investor conference in New York, CEO Larry Culp also reiterated that GE expects a free cash outflow of $1B-$2B in Q2 and the power unit foresees 2019 revenues down by high single digits while seeking to cut costs by 20% over the next two years.
- Culp also notes GE's power factory in Greenville, S.C., recently launched efforts to use lean manufacturing principles that aim to reduce costs and increase efficiency and quality.