The renewable energy business has been delivering poor results due to policy uncertainty following the expiry of renewable electricity production tax credits in 2021, which has hit customer demand.

GE, which completed the spin-off of its healthcare unit earlier this month, said it expects adjusted profit per share of $1.60 to $2.00 for the full year, compared with the average analyst expectation of $2.36 per share, as per Refinitiv.

Parts shortages have also hobbled overall production and inflationary pressures have driven up costs, forcing GE to raise prices.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Saumyadeb Chakrabarty)