This website is under development, but we are pushing out updates as we build, so check back Nov. 1 for our official launch.

GE Vernova Projects $300M Wind Segment Loss in Q3 2024, Yet Maintains Positive Full-Year Outlook

GE Vernova Inc (NYSE:GEV) expects its wind segment to record an EBITDA loss of about USD 300 million (EUR 272m) in Q3 2024, reflecting additional costs due to the recent offshore wind blade events. The company, which was spun off from General Electric in April, confirmed its full-year guidance for 2024 and expects increased strength in the power and electrification segments to offset the additional offshore wind costs. The onshore wind business is expected to deliver a fifth profitable quarter in a row, with the wind segment expected to be modestly profitable in Q4. GE Vernova’s full year guidance is for revenue at the upper end of USD 34 billion-35 billion, adjusted EBTDA margin of 5-7% and free cash flow of USD 1.3 billion-USD 1.7 billion.

Share:

More Posts

Send Us A Message