(Reuters) – General Electric Co on Tuesday pegged its full-year earnings at the lower end of its previous forecast, as persistent supply chain disruptions and rising freight and raw material costs take a toll on the industrial conglomerate.
“We’re holding the outlook range we shared in January, but as we continue to work through inflation and other evolving pressures, we’re currently trending toward the low end of the range.” GE Chief Executive Officer Larry Culp said.
The company had earlier forecast 2022 organic revenue to grow in the high-single-digit range, while free cash flow is expected to be between $5.5 billion and $6.5 billion.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D’Silva)
