GE Power Unit Faces Three-Year Turnaround Despite Orders Report

A General Electric sign during the China International Import Expo in Shanghai on Nov. 6, 2018. Federal prosecutors charged two Chinese men with stealing information related to GE’s turbine technology for the benefit of the Chinese regime. Aly Song/Reuters

NEW YORK—General Electric Co. expects its core power-plant business to lose significant cash this year and does not expect large improvement in that unit’s cash flow margins for at least three years, the company’s chief financial officer said on May 15.

“Power was a very significant negative cash flow generator last year. We expect it to be also significantly negative this year,” CFO Jamie Miller said at an investor conference hosted by Goldman Sachs.