TARRYTOWN, N.Y. (Reuters) – General Electric Co Chief Executive Larry Culp said on Wednesday that the company will likely have weaker quarters for the rest of the year after a surprisingly good start in the first quarter.

General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019. REUTERS/Alwyn Scott

The 127-year-old Boston-based conglomerate is struggling to recover from a $23 billion loss last year and Culp, who was named CEO in October, asked investors for patience during a turnaround that he expects will take two more years.

GE’s results will balance out through 2019 and its profit and cash flow forecasts are unchanged, Culp said at his first annual meeting as the