GE warns 2018 could be even worse than it expected for its embattled power business


“We said ’17 issues would carry over into ’18 in power, but it’s still a good franchise in power,” GE chief executive John Flannery said in a conference call on Wednesday.

The market for GE’s pricey power turbines has been weak due to the growth of renewable energy supply from wind and solar farms.

In 2018, GE is bracing for its worst year of gas turbine installations in about 15 years.

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