GE Vernova: confirms forecasts after a good quarter
(CercleFinance.com) - GE Vernova today released its Q3 financial results.
GE Vernova's orders grew 17% organically to $9.4bn, with strength across all segments and equipment growth in the energy and electrification sectors.
Sales of $8.9bn were up 8%, and up 10% organically, thanks to growth in equipment and services and continued positive pricing in all three segments.
Cash flow improved significantly by around $0.9bn, mainly thanks to solid working capital management.
We look forward to providing an update on strategic capital allocation and our multi-year financial outlook at our investor event in December, GE Vernova added.
GE Vernova confirms its financial guidance for 2024, with sales towards the top of $34bn-$35bn, an adjusted EBITDA margin of 5%-7% and FCF of $1.3bn-$1.7bn, now in the upper free cash flow range.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
GE Vernova's orders grew 17% organically to $9.4bn, with strength across all segments and equipment growth in the energy and electrification sectors.
Sales of $8.9bn were up 8%, and up 10% organically, thanks to growth in equipment and services and continued positive pricing in all three segments.
Cash flow improved significantly by around $0.9bn, mainly thanks to solid working capital management.
We look forward to providing an update on strategic capital allocation and our multi-year financial outlook at our investor event in December, GE Vernova added.
GE Vernova confirms its financial guidance for 2024, with sales towards the top of $34bn-$35bn, an adjusted EBITDA margin of 5%-7% and FCF of $1.3bn-$1.7bn, now in the upper free cash flow range.
Copyright (c) 2024 CercleFinance.com. All rights reserved.