GE Power Systems Q1 earnings and cash flow is expected to drop sharply.
It is confusing because many numbers have been cited, but GE numbers are almost always overly optimistic, and include bogus LTSA projected book vs actual sales. This is also under SEC investigation and 2 year earnings restatement had to remove $4.21 Billion in GE over statements.
Now with severe disruptions in service business from FieldCore disaster and the belief that GE i inept, out of touch, and disconnected from reality possibly deliberately lying management is naively believing that by trashing field engineer pay and overtime, will jack up earnings to cover new unit sales plunging.
The truth will be known really soon when they have to close books on Q1 earnings, and with SEC breathing down their necks, will have a hard time fudging the numbers unless they come up with a new scheme to obscure and cloud the real numbers like they have been doing for past decade.
If earnings and cash flow crater, as expected by what is obvious, you will really see mass layoff worse than even the projected $2 Billion projected 2018 cost out. It may be like 1986 all over again when they laid off around 75% of the Schenectady and Greenville product departments and closed the GE Lynn turbine factory. When looking at reality, it is hard to believe GE Power can escape the self inflicted downward spiral they have created from a decade of bad management by people who are not in any way turbine business experts, but just Six Sigma goons passing thru who collected bloated bonuses with fake cost savings that have destroyed the business.