CEO Olivier Le Peuch said, “”Second-quarter cash flow from operations vastly improved to $1.61 billion-$1.28 billion higher sequentially-and free cash flow was $986 million. Contributing to this very strong cash flow performance were higher earnings, robust receivable collections, improved inventory turnover, and continued capex discipline. We expect free cash flow generation in the second half of the year to be visibly higher than the first half, firmly positioning us to outperform last year’s free cash flow.”
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