🔹 Revenue: $10.56B (Est. $10.70B) 🔴; UP +5% YoY
🔹 Adj EPS: $1.73 (Est. $2.37) 🔴
🔹 Net Income: $0.5B; UP +$0.3B YoY
🔹 Adjusted EBITDA Margin: 10.2%
FY25 Guidance:
🔹 Revenue: $36B-$37B (Est. $36.81B) 🟡
🔹 Adjusted EBITDA Margin: High-single digits
🔹 Free Cash Flow: $2.0B-$2.5B (Est. $2.04B)
Q4 Segments:
Power:
🔹 Revenue: $5.43B (Est. $5.59B) 🔴; DOWN -3% YoY
🔸 Orders: $6.6B; UP +24% YoY
🔸 EBITDA Margin: 14.9%; UP +60 bps YoY
🔸 Growth led by Gas Power services and HA deliveries
Wind:
🔹 Revenue: $3.11B (Est. $3.45B) 🔴; UP +20% YoY
🔸 Orders: $2.03B; DOWN -41% YoY
🔸 Segment EBITDA Margin: 0.6%; UP +1,180 bps YoY
🔸 Driven by Onshore Wind, offset by Offshore Wind challenges
Electrification:
🔹 Revenue: $2.18B (Est. $2.19B) 🟡; UP +11% YoY
🔸 Orders: $4.8B; UP +118% YoY
🔸 Segment EBITDA Margin: 13.0%; UP +440 bps YoY
🔸 Growth driven by Grid Solutions and improved productivity
Key Metrics:
🔹 Organic Revenue Growth: +9% YoY
🔹 Adjusted Organic EBITDA Margin: 10.6%; UP +440 bps YoY
🔹 Free Cash Flow: $0.6B; DOWN -$1.1B YoY
🔹 Cash Balance: $8.2B; UP from $7.4B in Q3'24
FY2024 Full-Year Highlights:
🔹 Revenue: $34.9B; UP +5% YoY
🔹 Adjusted EBITDA: $2.0B; Adjusted EBITDA Margin: 5.8%
🔹 Free Cash Flow: $1.7B; UP +$1.3B YoY
🔸 Orders: $44.1B; UP +7% YoY
CEO Scott Strazik's Commentary:
🔸 "2024 was a foundational year for GE Vernova, with significant growth across Power, Wind, and Electrification. Our lean operational improvements and strong equipment backlog position us to meet accelerating energy transition demand."
Pipeline and Strategic Updates:
🔸 Secured a contract for the Net Zero Teesside Power project in the UK, the world’s first gas-fired power station with carbon capture.
🔸 Achieved record orders in Electrification, including HVDC orders in Germany and Korea.
🔸 Reduced Offshore Wind losses, with Onshore Wind delivering its most profitable quarter in three years.