GE Vernova said total revenue for Q3 2024 rose 8% to $8,913 million, and orders were $9.4B, up +17% organically. Net loss for the same quarter narrowed to $(99) million from $(185) million a year earlier.

1. 01

   GE Vernova said total revenue for Q3 2024 rose 8% to $8,913 million, and orders were $9.4B, up +17% organically. Net loss for the same quarter narrowed to $(99) million from $(185) million a year earlier.

2. 02

   The company said Power segment EBITDA margin for Q3 was 11.9% (+470 basis points), Electrification was 10.4% (+630 basis points), and Wind was (11.0)% (-320 basis points). It cited incremental Offshore Wind contract losses of about $(0.7) billion in Wind.

3. 03

   GE Vernova said operating cash flow for Q3 2024 was $1,127 million ($233 million a year earlier), and free cash flow was $968 million ($52 million a year earlier). The company also said its cash balance rose to $7.4B in Q2 from $5.8B.

4. 04

   GE Vernova said it reaffirmed its full-year 2024 guidance, with revenue in the higher end of the $34 to $35 billion range, adjusted EBITDA margin of 5% to -7%, and free cash flow of $1.3 to $1.7 billion. It said free cash flow is trending toward the higher end of that range.

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Original filing

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