GE's Long-Beleaguered Power Business May Have Finally Hit Bottom

Could General Electric (NYSE: GE) finally be on the verge of a turnaround? For the first time in a long time, at appears possible.

Such a shift would certainly be welcomed by shareholders. Expectations of current CEO Larry Culp were high when he was hired in late-2018, but he inherited a mess that's been exacerbated by coronavirus headaches. His overhaul has been lackluster thus far.

There's a glimmer of hope shining on the horizon though. GE's power business -- heavy equipment used to generate electricity -- seems to be stabilizing after years of deterioration. Even a modest recovery on this front could lift the company's results in a big way, as it was at one time GE's biggest business.

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Source Fool.com