Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 General Electric Says Supply Chain Woes Still Persist: Reuters – General Electric (NYSE:GE) – Stocks to Watch
General Electric Co GE Chief Financial Officer Carolina Dybeck Happe said the company is still struggling with supply-chain issues, Reuters reported.
The continuing problem has led to delays in product deliveries, she added.
The shortages of parts, labor, and raw materials, along with the macroeconomic uncertainty, wiped off 5% of the company’s Q2 revenue.
“Supply chain continues to be tough and continues to impair our ability to deliver to our customers,” Happe said.
The factors are expected to pressure the conglomerate’s cash flow for Q3.
The COVID-19 pandemic and the resulting business restrictions have fractured global supply chains, creating problems for companies in meeting demand and inventory levels.
Price Action: GE shares are trading lower by 4.51% at $65.80 in premarket on the last check Friday.
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