CHICAGO – General Electric Co Chief Executive Larry Culp said the company is not expected to fully offset soaring costs this year despite price increases.
The comments came after the Boston-based industrial conglomerate said fresh COVID-19-related lockdowns in China as well as the war in Ukraine have exacerbated supply chain disruptions and inflationary pressure, putting its full-year profit outlook at risk.
“It will be a net headwind for us,” he told Reuters in an interview.
(Reporting by Rajesh Kumar Singh)