GE Vernova Inc. ( (GEV) ) has released its Q4 earnings. Here is a breakdown of the information GE Vernova Inc. presented to its investors.
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GE Vernova Inc. is a global energy company dedicated to leading the energy transition by providing solutions in Power, Wind, and Electrification, with a focus on electrifying and decarbonizing the world.
In its latest earnings report, GE Vernova announced a robust financial performance for the fourth quarter and full year 2024, with record orders and revenue driven by its Power and Electrification segments. The company demonstrated significant margin expansion and strong cash generation, underpinning its strategic initiatives and operational improvements.
Key highlights include a 22% organic increase in fourth-quarter orders totaling $13.2 billion, with revenue reaching a record $10.6 billion, up 5% from the previous year. The company achieved a net income of $0.5 billion, with a 260 basis points increase in net income margin, and an adjusted EBITDA of $1.1 billion. For the full year, GE Vernova reported $44.1 billion in orders and $34.9 billion in revenue, with a substantial $2.0 billion increase in net income. Cash from operating activities improved significantly, and the company ended the year with an $8.2 billion cash balance, up from previous quarters.
The company’s Power segment saw a 28% organic growth in orders, driven by strong demand for Gas Power equipment, while the Electrification segment experienced a 19% increase in orders due to heightened demand for grid equipment. However, the Wind segment faced challenges with a 38% decline in orders, although it achieved profitability improvements in Onshore Wind.
Looking ahead, GE Vernova reaffirms its 2025 financial guidance, anticipating continued revenue growth and margin expansion. The company remains optimistic about its role in the energy transition, emphasizing investments in innovation and shareholder returns while maintaining a strong financial position.
