Better Second Quarter Free Cash Flow, but Near-Term Uncertainty Weighs on GE’s Shares
Industrial free cash flow turned positive in GE’s second quarter at over $700 million, a welcome result following the negative $2.2 billion reported in the first quarter. However, management’s increasingly cautious tone regarding resource-rich markets in the Power segment, ongoing weakness in the Oil and Gas segment, and a possible delay in closing the Industrial Solutions sale all contribute to the swirl of near-term negativity that we’ve seen overhanging the stock. Management reiterated its $1...Baker Hughes is an energy technology company. The company's segments are: Oilfield Services, which provides products and services for onshore and offshore operations ranging from drilling, evaluation, completion, production, and intervention; Oilfield Equipment, which provides products and services for the subsea, offshore surface and onshore operating environments; Turbomachinery and Processing Solutions, which provides equipment and related services for mechanical-drive, compression and power-generation applications; and Digital Solutions, which includes condition monitoring, industrial controls, non-destructive technologies, measurement, sensing, and pipeline solutions.
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