GE Vernova sees FY24 revenue trending toward higher end of $34B-$35B

GE Vernova (GEV) is reaffirming its 2024 financial guidance of revenue trending towards the higher end of $34-$35 billion, adjusted EBITDA margin of 5%-7%, and free cash flow of $1.3-$1.7 billion, now trending towards the higher end of the free cash flow range. Revenue consensus is $34.93B. Segment guidance is: Power: maintain mid-single digit organic revenue growth and higher end of ~150-200 basis points of organic segment EBITDA margin expansion. Wind: maintain flat organic revenue and approaching profitability with nearly 50% segment EBITDA improvement. Electrification: now expect high-teens organic revenue growth, up from mid-to high-teens, and maintain higher end of high single-digit segment EBITDA margin.