GE Vernova: orders stable, targets confirmed

( – GE Vernova announced Thursday that it had reduced its losses in the first quarter, but its order intake stagnated, or even declined in organic data, which penalized its stock on Wall Street.

The energy group announced this morning, for its first quarterly publication since its split from GE Aerospace, that its net loss was limited to 100 million dollars in the first quarter, compared to -300 million a year earlier.

Its operational loss also contracted, to 200 million euros, after -500 million dollars in the first quarter of 2023.

If its quarterly turnover increased by 6% to reach 7.3 billion dollars, with growth of 5% in organic data, its orders remained stable at 9.7 billion dollars.

In organic data, they even fell by 1%.

In its press release, GE Vernova reaffirms its forecast of revenue of $34 to $35 billion, for free cash flow (FCF) expected between $700 million and $1.1 billion.

Listed on the New York Stock Exchange, the stock nevertheless lost more than 4% following this publication. Since its first listing, its price has hardly changed.

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