RTR: General Electric still affected by supply chain issues

REUTERS reports:

General Electric Co (GE.N) is still grappling with supply-chain bottlenecks which have made it tougher to deliver products to customers on time, Chief Financial Officer Carolina Dybeck Happe said on Thursday.

All the businesses of the Boston-based industrial conglomerate have been facing challenges in satisfying customer demand due to shortages of parts, labor and raw materials.

In the second quarter, supply-chain and macroeconomic pressures shaved off 5 percentage points from GE’s revenue.

Dybeck Happe told a Morgan Stanley conference those factors continue to impact output of its jet engines and healthcare products.

“Supply chain continues to be tough and continues to impair our ability to deliver to our customers,” she said.

As a result, she said the company’s cash flow is expected to be under pressure…

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