GE Vernova: orders stable, targets confirmed
The energy group announced this morning, in its first quarterly publication since its spin-off from GE Aerospace, that its net loss had been limited to $100 million in the first quarter, compared with -$300 million a year earlier.
Its operating loss also narrowed, to 200 million euros, after -$500 million in the first quarter of 2023.
While quarterly sales rose by 6% to $7.3 billion, with 5% growth in organic terms, orders remained stable at $9.7 billion.
In organic terms, they even fell by 1%.
In its press release, GE Vernova reaffirmed its sales forecast of between $34 and $35 billion, with expected free cash flow (FCF) of between $700 million and $1.1 billion.
Listed on the New York Stock Exchange, GE Vernova's share price nevertheless dropped by more than 4% following this publication. Since it was first listed, the share price has hardly changed.
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