By Rajesh Kumar Singh

GREENVILLE (Reuters) -General Electric Co reiterated Thursday its 2022 earnings outlook despite supply-chain and inflationary challenges.

The Boston-based industrial conglomerate stated that it anticipates high single-digit revenue growth in the coming year due to a 20% rise in aviation revenues.

The adjusted profit for this year will be between $2.80 and $3.50 per shares. Additionally, it expects to improve its profit margin of 150 basis points as well as generate $5.5 to $6.5 billion free cash flow.

Company expects to make about $10 Billion in adjusted operating profits and $7B in free cash flow by 2023.

Larry Culp Chief Executive stated that GE is operating its businesses more efficiently and creating shareholder value today as well as tomorrow. Our stronger balance sheet allows us to use capital to invest growth.

After warnings that it would lose profits in the second half of the year, the company held an investor meeting.

Two years have passed since the outbreak of coronavirus infected the global supply chain and pushed up raw material and labor costs. Companies of every size are now scrambling to make enough for current demand and restock their stock shelves.

After Russia invaded Ukraine, the global commodity market has seen a dramatic uptake.

GE shares are also suffering from mounting worries about inflation and supply-chain. They have dropped 11% in the past year.

According to the company, it will raise prices while trying to control costs. To address the shortage, it is also looking for alternative parts.

GE announced last November that it will be splitting into three companies. However, the company has reaffirmed the timetable for spin-offs.

Next year, it plans to create a publicly traded separate company that will own its healthcare business. In 2024, it would combine power from renewable energy sources and create a new company. After the separation, it will turn into an airline company.