GE profit, cash flow beat estimates on strong aviation business

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By Rachit Vats and Alwyn Scott

(Reuters) – General Electric Co (N:) on Wednesday reported a 30% jump in quarterly profit that beat analysts’ estimates, boosted by its aviation business, but forecast 2020 profit below estimates.

On an adjusted basis, GE earned 21 cents per share, topping analyst estimates of 18 cents a share, according to data from Refinitiv.

Free cash flow from industrial operations totaled $3.9 billion in the quarter, beating analysts estimates of $3.4 billion, according to Refinitiv data.

Total revenue fell about 1% to $26.24 billion.

Earnings from continuing operations attributable to GE shareholders rose to $663 million in the fourth quarter ended Dec. 31 from $509 million a year earlier.

Earnings per share from continuing operations rose to 7 cents from 6 cents, the company said.

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