U.S. companies face pressure from rising raw material prices
The second-quarter performance report released by General Electric on the 27th showed that despite the significant increase in revenue, like many companies that have recently announced their financial reports, their performance prospects are under threat of inflationary pressures, and product price increases are inevitable.
General Electric financial report shows that the company total orders and total operating income in the second quarter were 18.355 billion US dollars and 18.279 billion US dollars, up 33% and 9% year-on-year, respectively, and operating income was higher than market expectations of 18.14 billion US dollars.
Affected by this, under non-GAAP, the General Electric Industrial sector achieved free cash flow of US$388 million in the second quarter, compared with a negative US$2.067 billion in cash flow in the same period last year. Adjusted earnings per share were 5 cents, better than market expectations of 3 cents and minus 14 cents in the same period last year.
However, under the General Accounting Standards, General Electric net loss per share in the second quarter was 14 cents, better than the 26 cents per share loss in the same period last year.
General Electric raised its full-year free cash flow forecast for the industrial sector from US$2.5 billion to US$3.5 billion to US$3.5 billion to US$5 billion. Expectations remain unchanged.
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