GE reports smaller loss as business recovers from pandemic lows

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Cash flow for its industrial operations was $514 million in the third quarter, compared with the average analyst estimate of an outflow of $876 million.

GE said it expects industrial free cash flow to be at least $2.5 billion in the fourth quarter and positive in 2021.

GE has laid out plans to cut $2 billion in costs, a great deal of which is at the aviation unit.

Revenue at GE’s aviation unit fell 39% in the quarter compared with last year, while in the power business it rose 3%.

The loss from continuing operations attributable to GE shareholders shrank to $1.2 billion in the third quarter ended Sept. 30 from $9.5 billion a year earlier.

(This story corrects to remove extraneous text in first paragraph)