GE de­lays earn­ings to give new CEO re­view time

The Atlanta Journal-Constitution - - BUSINESS -

Gen­eral Elec­tric Co. is push­ing back its third-quar­ter earn­ings re­lease to give the new boss more time to re­view the be­lea­guered man­u­fac­turer. GE will re­port re­sults on Oct. 30, af­ter Chief Ex­ec­u­tive Of­fi­cer Larry Culp wraps up “ini­tial busi­ness re­views and site vis­its,” the com­pany said Fri­day in a state­ment. GE planned to re­port earn­ings on Oct. 25. The un­usual de­ci­sion un­der­scores the tur­bu­lence that has over­taken GE, which abruptly re­placed CEO John Flan­nery last week and ac­knowl­edged that it wouldn’t meet its profit ex­pec­ta­tions this year. GE is grap­pling with one of the worst crises in its 126-year his­tory amid cash-flow short­falls and a deep slump in the power-equip­ment busi­ness.

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