Normal Electrical expects money circulate to show constructive in second-half of 2020: CEO


© Reuters. The GM emblem is pictured on the Normal Motors Meeting Plant in Ramos Arizpe

(Reuters) – Normal Electrical Co (N:) expects free money circulate to show constructive within the second half of 2020, Chief Government Officer Larry Culp mentioned at a Morgan Stanley (NYSE:) Laguna Convention on Wednesday.

Shares of the corporate, which have fallen about 45.4% to this point this yr, had been final buying and selling up 10.7% at $6.75 in afternoon commerce.

“We’ll ship constructive money circulate within the again half,” Culp mentioned.

The Boston-based industrial conglomerate reported money outflow of $2.1 billion from industrial operations within the second quarter because the coronavirus pandemic pummeled demand in its aviation enterprise.

Analysts count on GE third-quarter money outflow to be about $656 million and money influx of about $1.17 billion within the fourth quarter, in keeping with Refinitiv information.

Culp mentioned the corporate’s efficiency within the second half of the yr will set the stage for a constructive money circulate in 2021 as properly.

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