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The Key Takeaways
- GE Vernova’s fourth-quarter results will be released before the closing bell on Wednesday.
- Since General Electric split itself into three separate companies in April last year, the stock value has almost tripled.
- The company's wind segment will likely be in focus, as GE Vernova has said it expects the division to be "approaching profitability" by the end of the year.
GE Vernova, the company that split General Electric into three companies in 2013, is expected to announce its earnings on Wednesday before the opening of the markets.
Visible Alpha analysts have a majority of bulls, with the average rating being 10. “buy,” Two ways to give it away “hold” rating. Price targets vary from $361-$446. Their average price target is about $392 below Friday’s record after a good week for the company. Shares of GE Vernova rose nearly 3% on Friday, closing at a record high of $4001.41. They have almost tripled their value since April.
It is estimated that the company will report a revenue of $10.73 Billion for the last quarter of 2024. This compares to $10.04 Billion at the same point in time the previous year when the company was part of General Electric. The company is expecting to report a net income of $634.87 after it has suffered losses in two out of its first three quarterly periods as an independent company.
The Wind Segment: Profitability and its Focus
The company had previously stated that its wind business, the only division of GE Vernova to be unprofitable, would need to be reorganized. “approaching profitability” By the end of fiscal year. As it shifts away from more expensive offshore wind projects, the company says that this will take some time.
Bank of America analysts, for example, have raised their target prices or upgraded GE Vernova several times since the company became independent.
They cited the increasing demand for energy in particular renewable forms to power projects such as data centers and AI products, for GE Vernova sales moving forward.
GE Aerospace and GE HealthCare are also expected to release their respective fourth quarter results, on January 23 and February 13, 2019.
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