GE Aerospace Reports Robust 1Q24 Results; Raise Target Price [Forbes]
GE Vernova Inc. (GEV)
Company Research
Source: Forbes
billion) reported robust 1Q24 results, with a strong beat on EPS versus consensus. It should be noted that as GE Vernova was spun off from GE on April 2, and Vernova remained a part of the consolidated company for 1Q24. The company released consolidated results for General Electric on 4/23 for 1Q24, while GE Vernova's results were declared on 4/25. As for GE Aerospace, the company reported strong revenue growth of 15.5% YoY to $8.1 billion in 1Q24, while Profit increased 15.3% YoY to $1.5 billion. Orders of $11.0 billion increased by 34% YoY, with strength in both Commercial Engines & Services and Defense & Propulsion Technologies. GE Aerospace's adjusted EPS (on a consolidated basis) increased to $0.92 per share in 1Q24, up 46% YoY from $0.63 per share in 1Q23. Due to the upbeat results delivered by the company, the company raised its FY24 outlook, where it expects revenue growth in lower double-digits and expects operating profit in the range of $6.2 and $6.6 billion for the year (e
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- North America HVDC Market Analysis to 2030 Featuring GE Vernova, Hitachi Energy, and Siemens Energy [Yahoo! Finance]Yahoo! Finance
- Europe HVDC Market Analysis to 2030 Featuring GE Vernova, Hitachi Energy, and Siemens Energy with Focus on UK, Germany, Italy, Netherlands, & France [Yahoo! Finance]Yahoo! Finance
- GE Vernova Recommends Shareholders Reject "Mini-Tender" Offer by TRC Capital Investment Corporation [Yahoo! Finance]Yahoo! Finance
- GE Vernova Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Investment CorporationBusiness Wire
- Next Hydrogen Reports Q1 2024 Financial Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
GEV
Earnings
- 4/26/24 - Miss
GEV
Sec Filings
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- 4/4/24 - Form 4
- GEV's page on the SEC website