GE Vernova Inc. Reports Significant Q4 Growth

In an impressive financial update, GE Vernova Inc. announced a 5% increase in its fourth-quarter revenue for 2024, reaching $10.6 billion. This growth, compared to the previous year, highlights the company's resilience and strategic direction. Despite this, the figures fell short of market expectations, causing a 6.25% plunge in shares during premarket trading.

Net income and earnings per share (EPS) saw remarkable increases, with net income surging 136% to $484 million and diluted EPS jumping 140% to $1.73. This financial turnaround is a testament to the company's operational efficiency and market strategy.

Orders and Full-Year Performance

Orders for the quarter increased by 22% year-on-year to $13.2 billion, driven primarily by power and electrification equipment. For the full year, GE Vernova reported sales of $34.9 billion, marking a 5% annual rise. The company also turned around its net income from a $474 million loss in 2023 to a $1.6 billion profit in 2024, with diluted EPS climbing to $5.58 from a $1.6 loss a year ago.

Looking Ahead

GE Vernova has reaffirmed its 2025 guidance, projecting revenue between $36 billion and $37 billion and free cash flow between $2 billion and $2.5 billion. This optimistic outlook reflects the company's confidence in its growth trajectory and operational strategies.