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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 08:47 EDT
Following General Electric's 10-K and commentary from engine partner Safran, Morgan Stanley analyst Joshua Pokrzywinski said he remains convinced that the sustainability of GE's cash generation is higher than investors appreciate. He believes Aviation's free cash flow will grow materially in 2020 and 2021, even with conservative assumptions on 2019 items that may not recur, and outside of that segment he is "encouraged by the subtext" in the other segments, Pokrzywinski tells investors. The analyst, who thinks "the cash story at GE as solid" and set to improve further in 2021, expects the company's March 4 outlook call to drive investors to have a higher view on 2021 free cash flow. He keeps an Overweight rating and $15 price target on GE shares.
News For GE From the Last 2 Days
Jun 5, 2020 | 17:37 EDT
General Electric was awarded a $180.6M firm-fixed-price, indefinite-delivery/indefinite-quantity contract. This contract procures commercial depot level services for the repair and overhaul of T700-GE-401/401C turbo shaft engines, cold section modules and power turbine modules for the Navy H-60 Seahawk helicopter as well as the Marine Corps H-1 Cobra and Bell UH-1 Huey aircraft. Work will be performed in Wingsfield, Kansas and is expected to be complete by June 2025. No funds will be obligated at the time of award. Funds will be obligated on individual orders as they are issued. This contract was not competitively procured pursuant to 10 U.S. Code 2304. The Naval Air Warfare Center Aircraft Division is the contracting activity.
Jun 4, 2020 | 12:41 EDT
SMBC Aviation Capital's CEO Peter Barrett is cautious on the prospects of aircraft leasing, wrote Peggy Hollinger of the Financial Times. "It will be a tough couple of years for customers and the leasing market. We will have to manage the portfolio, but we see opportunities for businesses like ours to support a recovering industry," added the Financial Times story. Companies in the space include AerCap (AER), Air Lease (AL), Textron (TXT) and General Electric (GE). Reference Link