CHICAGO (Reuters) -General Electric Co warned on Friday that a supply chain logjam coupled with a labor crunch and inflation will pressure profits through the first half of the year.
The challenges are affecting its units including healthcare, renewable energy and aviation, the company said in a regulatory filing.
But the Boston-based industrial conglomerate said its 2022 earnings forecast, which was shared with investors last month, had factored in supply-chain and inflationary challenges.
GE expects adjusted profit in the range of $2.80 per share to $3.50 per share in 2022, compared with $1.71 per share last year. Full-year free cash flow is estimated at $5.5 billion to $6.5 billion, up from $2.6 billion in 2021.
The company’s shares were down 3.9% at $94.57 in late-morning trade.
(Reporting by Rajesh Kumar Singh in Chicago and Aishwarya Nair in Bengaluru; Editing by Arun Koyyur and Tim Ahmann)
