General Electric Co. backed its earnings forecast for this year and 2003 as the manufacturing conglomerate expects weaker trends in key businesses such as plastics and jet engine manufacturing. The forecasts, given in a slide presentation on GE's Web site, mirrors the guidance the company gave on Nov. 21.
GE, maker of everything from jet engines to appliances, said it expects to earn U.S. $1.55 to $1.70 per share next year. It expects to earn $1.51 a share this year.
GE's reinsurance unit has been a drag on earnings while the company experiences weakness in its aircraft engines, plastics, and power systems businesses. (Reuters)
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