It’s been a busy few weeks following our 1Q’21 earnings call. In case you missed it, Carolina recently presented at the Goldman Sachs Industrials & Materials Conference, where she provided commentary on recent operating reviews at our businesses plus gave some color on our discontinued factoring programs.
As the world continues to fight through the pandemic, our thoughts are with our GE India team, customers, and the people of India, who continue to face a devastating crisis. India is home to the second-largest GE employee population after the U.S. From the GE Foundation’s grants to United Way India to teams across our businesses and functions volunteering to run helplines, coordinate hospital beds, and organize Oxygen Concentrators and critical supplies, GE is working to support those in need and help India navigate this unprecedented time.
Across our businesses, the GE team remains highly focused on three important, strategic opportunities—the future of flight, precision health, and the energy transition. To that end, I’ve highlighted just a few recent updates from our businesses below.
We also posted details on the free cash flow impact from the discontinued factoring programs mentioned above by quarter to our website. As a reminder, these additional details reflect the CFOA impact from discontinuing most of our factoring programs as of April 1, which is a subset of the CFOA impact from all factoring programs historically reported, a smaller portion of which will continue, mostly third-party off-book, and which we believe will be an effective and efficient level to support our Industrial businesses.
Finally, we hope you’ll tune in to Larry and Carolina at upcoming conferences. These include:
- Carolina at the Wolfe Global Transportation & Industrials Conference on May 27 at 3:20 pm EDT
- Larry at the Bernstein Strategic Decisions Conference June 4 at 8:00 am EDT
- Carolina at the UBS Global Industrials & Transportation Conference on June 9 at 1:00 pm EDT
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