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Today, GE Chairman and CEO Larry Culp will host an Investor Call to discuss our 2020 outlook. Visit our Investor Relations website to view the materials and tune in to the call at 8:00 AM ET.
Larry will be joined by GE Vice Chair & GE Aviation CEO David Joyce, GE Gas Power CEO Scott Strazik, GE Power Portfolio CEO Russell Stokes, GE Renewable Energy CEO Jérôme Pécresse, GE Healthcare CEO Kieran Murphy, and GE Capital CEO Alec Burger. During the call, they will discuss more detail behind our outlook for 2020 and share some of our expectations for 2021+.
We are reaffirming the following total company outlook for full-year 2020, which incorporates the expected impact of COVID-19 for the first quarter only:
- GE Industrial revenues to grow organically* in the low-single-digit range.
- Adjusted GE Industrial profit margin* to expand organically in a range from 0 to 75 basis points.
- Adjusted earnings per share* of $0.50 to $0.60.
- GE Industrial free cash flow* of $2 billion to $4 billion.
“We entered this year with momentum having diligently addressed our most pressing issues and reset our foundation in 2019,” Larry said. “While there’s more work ahead, I am confident in our ability to execute given the strengths of GE’s team, technology, and global reach and capabilities. We remain focused on our priorities of solidifying our financial position, continuing to strengthen our businesses, and driving long-term profitable growth as our multi-year transformation accelerates.”
We’re also excited to welcome Carolina Dybeck Happe, who joined GE this week as Senior Vice President and Chief Financial Officer. I am excited for Carolina to join our team, and for you to get to know her over the coming months.
Finally, I am pleased to share that today, GE announced its Board of Directors will nominate former U.S. Secretary of Defense Ash Carter to the GE Board. He brings the perspective of our customers, particularly in aerospace and government, directly onto our Board, and his experience assessing and navigating changing geopolitics, markets, and industries will make GE more prepared and agile for the future.
As always, I welcome your feedback and thank you for your interest in GE.
Steve Winoker is the vice president for investor communications at GE.