GE lifts 2021 earnings forecast, flags ‘challenging operating environment’

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Reuters

By Rajesh Kumar Singh CHICAGO (Reuters) – General Electric Co announced an upward revision to its full-year earnings forecast on Tuesday after a recovery in its jet-engine business helped it report higher-than-expected quarterly profit. The industrial conglomerate, however, said it faced a “challenging” operating environment because of global supply chain disruptions and uncertainty over whether production tax credits for onshore wind investments will be extended over the long term in U.S. President Joe Biden’s infrastructure bill. GE, like other manufacturers, is grappling with a labor crunch…

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