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GE is still in rescue mode more than three years after its historic collapse began in 2017. The epicenter of the disaster was GE’s power operation, which makes electricity-generating turbines and which continued to shrink in 2019. The renewable energy business booked a big loss last year and continues to suffer as rock-bottom oil prices sap demand. Even the company’s longtime stalwart, jet engines, faces serious headwinds. While the division delivered two-thirds of GE’s profits, Boeing’s 737 Max travails, followed by the coronavirus pandemic, have slowed its progress. Healthcare, at least, has performed well. CEO Larry Culp faces years more work before this rescue is accomplished. It could use a little luck, too.
Courtesy of GE
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