General Electric Says Supply Chain Woes Still Persist: Reuters

• General Electric Co (NYSE: GE) Chief Financial Officer Carolina Dybeck Happe said the company is still struggling with supply-chain issues, Reuters reported.

• The continuing problem has led to delays in product deliveries, she added.

• The shortages of parts, labor, and raw materials, along with the macroeconomic uncertainty, wiped off 5% of the company's Q2 revenue.

• "Supply chain continues to be tough and continues to impair our ability to deliver to our customers," Happe said.

• The factors are expected to pressure the conglomerate's cash flow for Q3.

• The COVID-19 pandemic and the resulting business restrictions have fractured global supply chains, creating problems for companies in meeting demand and inventory levels.

• Price Action: GE shares are trading lower by 4.51% at $65.80 in premarket on the last check Friday.

• Photo Via Company

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