General Electric on Tuesday forecast higher profit and free cash flow this year after reporting stronger-than-expected earnings in the quarter through December.

These 2022 estimates were derived from the new company reporting format. It was adopted after it sold its jet-leasing and capital businesses.

Boston-based industrial conglomerate, Conglomerate Boston expects an adjusted profit range of $2.80 to $3.50 per shared in 2022. This compares with the $1.71 share last year.

The full-year cash flow free of debt is expected to be $5.5 billion to $6.5 billion. This compares with $2.6 billion for 2021.

The new structure will see GE Capital, the financial services division of the group, no longer being reported by the group as a distinct business segment.

GE’s fourth-quarter adjusted earnings were 92 cents per share under the old format. This is higher than the 85 cents estimate by Refinitiv analysts.

This quarter it generated $3.8billion in free cash flow through industrial operations, a decline of about 500 million over the previous year.

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