March 26, 2018 / 10:08 PM / 5 months ago

GE's Baker Hughes expects lower margins in turbomachinery business

HOUSTON, March 26 (Reuters) -

* General Electric’s Baker Hughes expects “slightly lower” margins in its turbomachinery and process solutions (TPS) business than anticipated in January, Chief Executive Lorenzo Simonelli said on Monday at the Scotia Howard Weil energy conference in New Orleans

* Weaker margins in the TPS business should be offset by better performance in other units and first-quarter impacts should “balance out through the course of the year,” Simonelli added

* Overall, the company expects its business to return to normalized, mid-teen margins by late 2019, Simonelli said (Reporting by Liz Hampton; Editing by Lisa Shumaker)

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