GE Vernova Inc., a company specializing in electronic and electrical equipment manufacturing, shared its fourth-quarter financial results for 2024 today.
The announcement from the $114.7 billion market cap company, whose stock has surged 217% over the past year, comes as part of a standard 8-K filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, though current analysis suggests the stock may be trading above its Fair Value.
The Delaware-based company, which operates from its headquarters at 58 Charles Street, Cambridge, MA, presented its latest financial figures, marking the end of the fiscal quarter on January 22, 2025. The company, currently trading at $416 per share and near its 52-week high of $417.21, has shown remarkable momentum with a 26.47% gain year-to-date.
These results are now publicly accessible and have been appended as Exhibit 99 in the filing, although they are not considered filed under Section 18 of the Securities Exchange Act of 1934 and are not incorporated by reference into any of the company's previous filings.
GE Vernova Inc., which trades on the New York Stock Exchange under the ticker (NYSE:GEV), has not provided specific details regarding the financial performance in the press release statement. The company, formerly known as GE Vernova LLC before a name change on October 10, 2023, has indicated that the financial results are furnished and should not be interpreted as subject to the liabilities of Section 18 of the Exchange Act.
The filing also includes the company's contact information and the date of the report, which aligns with the date of the earliest event reported, thus ensuring transparency and compliance with SEC regulations.
Investors and interested parties are directed to GE Vernova's investor relations webpage to review the detailed financial results from the fourth quarter of 2024. For deeper insights, InvestingPro subscribers can access comprehensive analysis, including 15+ additional ProTips and a detailed Pro Research Report, offering valuable perspectives on GE Vernova's financial position and market outlook. This release is part of the company's commitment to regular financial reporting and maintaining open communication with its shareholders and the public.
This news article is based on a press release statement and provides an overview of the key facts disclosed in the 8-K filing, without offering opinions or recommendations.
In other recent news, GE Vernova has seen a flurry of analyst activity. BofA Securities maintained its Buy rating for the company, with a price target of $415, while BMO Capital Markets increased its price target to $420, maintaining an Outperform rating.
Truist Securities also raised its price target for GE Vernova from $400 to $420, keeping a Buy rating. These adjustments reflect analysts' confidence in the company's long-term prospects, particularly in the gas turbine and electrification sectors.
GE Vernova has reported robust financial performance, with revenues reaching $34.42 billion over the last twelve months. The company's success in securing gas turbine reservations has contributed to this positive outlook. Truist Securities predicts a 31% surge in electrification orders by 2025, driven by growth in data centers, artificial intelligence, and overall power requirements in the U.S.
Despite challenges posed by President Trump's executive orders affecting offshore wind projects, GE Vernova is expected to complete large offshore wind projects by 2026. The company also announced a revised 2028 adjusted EBITDA margin target of 14%, up from the previous 10%, and anticipates generating approximately $14 billion in cumulative free cash flow from 2025 to 2028. These are recent developments that provide insights into GE Vernova's strategic plans and financial targets.
However, the company's progress has been met with opposition to wind energy from President Trump, affecting shares in the wind energy sector, including GE Vernova. Despite these headwinds, analysts from firms such as BofA Securities, BMO Capital Markets, and Truist Securities remain confident in GE Vernova's long-term prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.