General Electric Co.’s revenue rose in the latest quarter on a rebound in its jet-engine business and the manufacturing giant cautioned that supply-chain delays and inflation continue to pressure its business.

GE lowered its forecast for 2022 free cash flow by about $1 billion, citing lower orders in its renewable-energy division and measures it said it has taken to shield customers from supply-chain constraints. In January, GE predicted 2022 free cash flow of $5.5 billion to $6.5 billion.

The Boston-based conglomerate is in the process of splitting into three companies, starting with a planned spinoff of its healthcare business in early 2023. GE projected what it described as a slight decline in the full-year profit outlook for its healthcare division, citing inflation as the primary driver.

Revenue in the company’s aviation business surged 27% to $6.13 billion, making it the biggest and most profitable division, driven by demand for services and spare parts sales even as supply-chain problems reduced engine deliveries. The unit produces and repairs engines for Boeing Co. and Airbus SE ; and GE said it expects demand to remain strong as travel rebounds after the pandemic.

Overall, GE reported a second-quarter loss of $648 million on continuing operations, widened from $626 million in the year-earlier quarter. Excluding items, GE said its adjusted earnings were 78 cents a share, compared with Wall Street‘s estimate of 42 cents a share.

Revenue was $18.64 billion versus $18.25 billion a year ago. Analysts had projected $17.9 billion, according to S&P Global Market Intelligence.

In the second quarter, GE reported free cash flow of $162 million, down from $199 million a year ago. Executives had warned in April that quarterly cash flow could be negative again after GE had negative cash flow of $880 million in the first quarter.

Lower orders for onshore wind turbines and inflation in its renewable-energy business reduced profit margins there, and the company said those and other pressures mean the unit no longer expects a “step-up in profit” in the second half of the year.

The company otherwise reiterated an April warning that 2022 adjusted earnings are likely to come in at the low end of its January forecasts of $2.80 to $3.50 a share. The company has previously said that rising costs would likely outstrip its ability to raise prices, but that the gap would start to shrink in the second half.

Write to Theo Francis at theo.francis@wsj.com