Latest news with #KenParks
Yahoo
02-06-2025
- Climate
- Yahoo
Banana Lake fire near Plains expands to 850 acres
The Banana Lake Fire is pictured on Saturday, May 31, 2025. (Inciweb photo) An 850-acre wildfire exploded in size on Sunday about four miles north of Plains. The Banana Lake fire was discovered on Saturday and prompted a significant response from firefighting officials. As of Monday, 17 engines, two helicopters, two hand crews, a hotshot crew and three bulldozers are all assigned to the fire. The Western Montana Type 3 Incident Management Team, led by Ken Parks — the deputy director of the Missoula County Emergency Management Department — assumed command of the incident on Monday. Firefighters were busy over the weekend with structure protection. (Information on what structures were being protected was not immediately available.) The fire started near Locust Hill in Plains and is burning along Highway 28 near Rainbow Lake. Fueling the fire is open timber, and a 'full suppression response' is being implemented per the fire's Inciweb situation report. Fire officials asked the public to stay away from the area. The state's Department of Natural Resources and Conservation media liaison listed for the fire did not immediately return a request for comment. Montana could be gearing up for a long fire season. National Interagency Fire Center maps predict 'greater than usual' likelihood of significant wildfires for half of the state by July and nearly all of it come August. 'Wildfires are a reality in Montana each year, but thanks to increased funding and innovative technology, DNRC is more prepared than ever before to respond quickly and effectively,' Gov. Greg Gianforte said in a press release last week. 'While our teams are equipped and ready to protect homes and communities in the event of wildfire, we also need every Montanan to take simple steps to join us in our efforts to keep our state safe.' Gianforte signed two wildfire bills earlier this month, while vetoing two others that would have impacted local fire departments. How wildfires are to be fought is also a major topic both at the federal level and in the court system. The state has already had several early season wildfires, including one near Wisdom that ended up burning more than 2,000 acres. According to Montana Fire Info, nearly 350 fires have burned in the state this year so far. Rural firefighters throughout the state are starting to see things dry out. That includes Missoula Rural Fire District Lt. Phillip Mediate during an interview with the Daily Montanan regarding unseasonably warm temperatures over the weekend. 'We've had a pretty good wet spring,' Mediate said on Saturday morning. 'We're starting to see the spike in temperatures now. I think the fire danger has moved to moderate, just in the last couple of days, so we're starting to see those grasses dry out … we're starting to head into that season.'
Yahoo
23-04-2025
- Business
- Yahoo
GE Vernova Can Mitigate Tariff And Inflation Concerns After Strong Q1, Sticks To Annual Outlook
GE Vernova Inc. (NYSE:GEV) shares are trading higher on Wednesday following the company's stronger-than-expected first-quarter 2025 results. The company reported revenue growth of 11% year-over-year to $8.03 billion and +15% organically, beating the consensus of $7.54 billion. GE Vernova reported orders totaling $10.2 billion, reflecting an 8% YoY organic growth. This increase was primarily driven by a 16% rise in service orders and a significant 43% surge in Power equipment orders. Earnings per share for the quarter were 91 cents, compared to a loss per share of 47 cents, which beat the consensus of 53 cents. Also Read: Adjusted EBITDA margin expanded by 310 bps to 5.7% and by 170 bps to 5.4% on an organic basis, with Adjusted EBITDA of $457 million (+141.8% YoY). Power Segment: Revenue was $4.423 billion (+10% YoY), and Orders reached $6.247 billion (+24% YoY), driven by Gas Power equipment and services. Segment EBITDA reached $508 million, and margins were up 290 bps to 11.5%. Wind Segment: Orders decreased 43% to $0.6 billion, mainly due to lower Onshore Wind equipment in the U.S. Revenues rose 13% to $1.8 billion, driven by higher Onshore Wind deliveries and pricing, despite continued losses in the Offshore Wind segment. Segment EBITDA was $(0.1) billion, improving by 270 bps. Electrification Segment: Orders totaled $3.4 billion, down 3% organically, due to a large HVDC order in Q1 2024. Revenues increased 14%, or 18% organically, to $1.9 billion, driven by growth in Grid Solutions. Segment EBITDA was $0.2 billion, with an 11.4% margin, up 740 bps. Operating cash flow for the quarter totaled $1.16 billion, and free cash flow was $975 million. At the end of the quarter, the cash balance was $8.1 billion. 'We generated positive free cash flow in the first quarter, a milestone for the GE Vernova businesses, reflecting strong down payments and working capital management resulting in further improvement in linearity,' said GE Vernova CFO Ken Parks. 2025 Guidance: GE Vernova reaffirms its 2025 financial outlook, projecting revenue of $36-$37 billion versus the consensus of $37.73 billion, a high-single-digit adjusted EBITDA margin, and free cash flow of $2.0-$2.5 billion. Segment guidance includes: Power: Mid-single digit organic revenue growth and 13%-14% segment EBITDA margin. Wind: Mid-single digit decline in organic revenue and $200-$400 million in segment EBITDA losses. Electrification: Mid-to-high-teens organic revenue growth and 11%-13% segment EBITDA margin. The company stated that this guidance accounts for tariffs and inflation, estimated at $300-$400 million, net of mitigating actions. Price Action: GEV shares traded higher by 4.93% at $342.15 at the last check on Wednesday. Read: Next:Photo 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 Can Mitigate Tariff And Inflation Concerns After Strong Q1, Sticks To Annual Outlook originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
