Latest news with #GEPower
Business Upturn
3 days ago
- Business
- Business Upturn
GE Power shares jump 2% as Q1 net profit surges 246%
By Aditya Bhagchandani Published on August 14, 2025, 10:01 IST Shares of GE Power were in focus on Thursday, August 14, after the company reported strong June quarter (Q1 FY26) results. The firm posted a net profit of Rs 34.7 crore, marking a 246% year-on-year (YoY) jump from a loss of Rs 9.54 crore in the same period last year. Sales for the quarter rose 16% YoY to Rs 287 crore, compared to Rs 246 crore in June 2024. The company also recorded a significant improvement in EBITDA, narrowing its loss to Rs 12.2 crore from Rs 18.4 crore a year earlier. Earnings per share (EPS) stood at Rs 5.16, up 463% YoY from a negative Rs 1.42 in June 2024. As of 9:53 am today the shares were trading over 2% up. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
23-07-2025
- Business
- Yahoo
GE Vernova Lifts Outlook As Revenue And Orders Surge
Shares of GE Vernova Inc. (NYSE:GEV) rose Wednesday after the company posted better-than-expected second-quarter 2025 earnings and raised its full-year guidance. The energy transition company reported second-quarter earnings per share of $1.86, beating the consensus estimate of $1.69. Revenue came in at $9.11 billion, exceeding Wall Street's expectations of $8.78 billion. That marks an 11% increase from a year ago and 12% on an organic basis, driven by continued strength in both equipment and income for the quarter was $492 million, with a net margin of 5.4% down 1020 bps. Adjusted EBITDA rose to $770 million, with an Adj. EBITDA margin of 8.5%, up from 6.4% a year ago. Operating cash flow totaled $367 million, down from $978 million YoY, while free cash flow was $194 million for the quarter. The company ended the quarter with $7.9 billion in cash. View more earnings on GEV 'We had a productive second quarter, positioning us well to accelerate growth and margin expansion,' said CEO Scott Strazik. 'We grew our backlog by more than $5 billion and increased Gas Power slot reservation agreements from 50 to 55 gigawatts.' GE Vernova's backlog rose by $5.2 billion during the quarter, fueled by gains in equipment and service contracts. Gas Power equipment backlog remained at 29 gigawatts, while slot reservation agreements increased to 25 gigawatts. The company also received final investment approval from the Ontario government to build the first small modular reactor (SMR) in the Western world. Segment Highlights Power: Orders: $7.088 billion, +44% organically. Revenue: $4.758 billion, up 7% year-over-year, 9% organically. Segment EBITDA margin expanded by 260 basis points to 16.4%. Signed 9 GW in new gas equipment contracts, including 7 GW in slot reservations. Wind: Orders: Down 5% organically to $2.06 billion. Revenue: $2.245 billion, up 9% from a year ago, driven by Onshore Wind deliveries. Segment losses increased due to Offshore Wind tariffs and service costs, partly offset by higher Onshore equipment volume. Invested over $100 million in its 57,000-unit turbine fleet. Electrification: Orders: $3.34 billion, down 31% organically. Revenue: $2.2 billion, up 23%, led by Grid Solutions. Segment EBITDA margin improved by 740 basis points to 14.6%. Equipment backlog grew sequentially by $2 billion across North America, Europe, and Asia. GE Vernova repurchased 1.2 million shares during the quarter and has bought back 5.2 million shares year-to-date through June 30 at an average price of $306. The Board declared a 25-cent per share dividend, payable August 18 to shareholders of record as of July 21. Updated 2025 Outlook GE Vernova raised its 2025 guidance, expecting revenue to trend toward the higher end of its $36 billion to $37 billion range versus $36.952 billion estimate. The company also lifted its adjusted EBITDA margin forecast to 8% to 9%, up from high-single-digit estimates. It also increased its free cash flow guidance from $3.0 billion to $3.5 billion, from the prior $2.0 billion to $2.5 billion range. Segment guidance includes: Power: 6%-7% organic revenue growth and 14%-15% EBITDA margin. Wind: Mid-single-digit organic revenue decline with $200 million-$400 million in segment losses, trending toward the lower end. Electrification: ~20% organic revenue growth and 13%-15% EBITDA margin. GE Vernova said its guidance includes the impact of tariffs and inflation, now estimated toward the lower end of $300 million to $400 million, net of mitigation. CFO Ken Parks said the company is trending toward the higher end of its targets. 'We're delivering disciplined revenue growth, margin expansion and positive free cash flow while returning capital to shareholders and maintaining a solid balance sheet,' Parks said. Price Action: GEV shares are trading higher by 7.47% to $589.99 premarket at last check Wednesday. Read Next:Photo by T. Schneider via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article GE Vernova Lifts Outlook As Revenue And Orders Surge originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
23-05-2025
- Business
- Yahoo
Why GE Vernova's stock is power surging after just one year of existence
Storied General Electric doubled down on fossil fuels in the power sector a decade ago with its largest industrial acquisition ever, paying almost $11 billion for the French conglomerate Alstom's electric business to dramatically grow GE Power. GE made the purchase just months before the oil and gas sector crashed and the renewable energy sector began to take off. The deal was dubbed a boondoggle and the latest misstep in GE's many struggles. Even when GE decided to split into three parts in 2021, including spinning off its power and renewables business, the focus was on clean energy. The name GE Vernova loosely translates to 'new green,' meant to reflect a new and innovative low-carbon era. But the funny thing is that green company holds GE's massive gas-turbine manufacturing business. And, thus, the once ill-fated GE Power division has hit it big. After years of seemingly poor timing, GE Vernova struck the zeitgeist when it finally launched as a publicly traded standalone in April 2024. Since then, GE Vernova's shares have surged nearly 250%, including a massive 65% spike just since the beginning of April to new highs, up to a market cap of about $125 billion. Just a few years ago, electricity demand was essentially flat, so two factors dominated investment concerns in the mature power generation business: cost and climate impact, giving wind and solar potential advantages. Now, the world is suddenly changed with new data centers for artificial intelligence spurring the fastest growth in power demand in decades. The demand for gas turbines for power plants is booming and they cannot be built quickly enough. 'One of the pinnacle technologies underlying the modern world is the high-temperature, high-efficiency gas turbine, and only a few companies on Earth can make the highest efficiency turbines,' said Mark Nelson, the managing director of the consultancy Radiant Energy Group. 'GE Vernova is one of the few.' The company's combined backlog of orders for new gas turbines and maintenance services for its existing customers now totals $123 billion. GE Vernova reported first-quarter earnings of 91 cents per share from sales of $8 billion, easily beating Wall Street analysts' estimates of 45 cents on $7.6 billion. Highlighting the dramatic speed of its growth, GE Vernova posted a loss of $106 million, or 47 cents per share, at this point last year. 'Sitting here today, '26 and '27 are largely sold out, we are approaching filling out '28, and starting to sign agreements for later years,' GE Vernova CEO Scott Strazik said on last month's earnings call. 'I give that context to just frame that I continue to see this market normalizing to a higher-for-longer gas market. The world needs more dispatchable power generation to support economic growth and national security.' GE Vernova declined Fortune's request to interview Strazik, but said: 'We are just getting started, and the best is yet to come.' Notably, the company said its backlog of orders for turbines and maintenance service grew by nearly $4.5 billion in three months. 'Rising electricity demand is good for anybody who produces power generation equipment, and GE is a leader both on the natural gas turbine side and also on the wind side,' said Brett Castelli, an equity analyst for the research firm Morningstar. Power demand looks set to grow for decades to come as the country transitions to using more and more electricity for manufacturing, vehicles, heating and cooling, he said. 'While electric vehicles are a 20-year thing, the biggest thing in the next five years is all these AI data centers,' Castelli said. 'That's why the stock has become so data center-centric.' The company's signature 7F heavy-duty gas turbine takes just 11 minutes to reach full capacity. The machine—essentially a giant jet engine—is designed with specially-cast blades made with single-crystal alloys and precisely punctured holes that allow turbines to reach temperatures that would typically melt metal, harnessing huge amounts of energy. Unlike the wind turbines from GE Vernova's weaker-performing renewables arm, the gas turbines take up relatively tiny amounts of land and can run virtually anytime regardless of the weather. And while GE Vernova is pinning hopes on building next-generation nuclear reactors in large numbers in the 2030s, gas power plants are constructed now in just a few years—still not quickly enough for demand forecasts. Just last week, and in conjunction with President Trump's Middle East visit, GE Vernova announced power generation and grid initiatives in Saudi Arabia worth up to $14.2 billion, primarily focused on gas-fired power. But those nuclear dreams show sparks as well. Earlier in May, Canadian regulators gave the company the green light to start construction of its first small modular reactors—essentially a smaller, modernized version of the large-scale boiling water reactors it once built in Japan and the United States—with Ontario's state power company. In the U.S., the Tennessee Valley Authority this week submitted the application to build the first American project using GE Vernova's BWRX-300 reactors. While Trump has sought to block new wind projects in federal waters and on public lands, Strazik says his company's two turbine divisions go hand-in-hand, with the gas turbines providing critical backup to wind turbines when the air is calm. 'Ultimately, gas is the force multiplier for more wind and solar to get built,' he said in an appearance on Jim Cramer's CNBC show last month. 'Without gas, you can't get to renewable penetration rates that the world is looking for.' This broader movement to build power generation—gas and renewables—is now defined by the same forces that underpinned the U.S. economy after the Second World War, including national security, Strazik said in the earnings call. 'To put today's investment super cycle into perspective in terms of energy needs and decarbonization, the scale of load growth we're seeing in North America is the most significant since the post-World War II industrial build-out,' he said. 'But, unlike then, the growth is global.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Trade Arabia
25-02-2025
- Business
- Trade Arabia
GE Vernova event draws over 200 Saudi industry experts
GE Vernova recently hosted a forum bringing together over 200 senior leaders from across Saudi Arabia's energy sector to promote crucial collaboration in support of Saudi Vision 2030 and the Kingdom's goals to reach net zero by 2060. GE Vernova (formerly GE Power and GE Renewable Energy), is an energy equipment manufacturing and services company headquartered in Cambridge, Massachusetts. The event was held under the patronage of the Ministry of Energy at the King Abdullah Petroleum Studies and Research Center (KAPSARC), Riyadh. During the event, Scott Strazik, CEO of GE Vernova, joined over 200 distinguished senior leaders from the public, private, and non-profit sectors across the energy ecosystem to exchange ideas, share solutions, and present best practices to further strengthen Saudi Arabia's energy ecosystem in support of Saudi Vision 2030. Additionally, GE Vernova's annual Global Supplier Partnership Summit, was hosted with more than 300 GE Vernova supplier organizations in attendance. The event's aim was to deepen the energy sector supply chain, drive national industrialization and economic diversification goals, and foster foreign investments to create greater shared value in the power sector, it stated. Members of GE Vernova's executive leadership team also met in Riyadh, prioritizing bringing the executive leadership team to the kingdom within the first year of GE Vernova's spin-off as an independent company trading on the New York Stock Exchange. They highlighted the 90-year strategic relationship between the Kingdom and the company, which has been marked by deep and continued cooperation on energy innovation. "With a clear roadmap for Vision 2030 and beyond, Saudi Arabia is well placed to lead a new era of energy, and GE Vernova is honored to play a significant role in these efforts," remarked Strazik. "We are applying technologies, skills, and knowledge from around the world to the Kingdom – including in our work at the GE Manufacturing and Technology Center campus and the Khobar Integration Facility," he noted.
