GE Vernova Q2 Profit Plunges, But Adj. EBITDA Up; Lifts FY25 Outlook; Stock Up In Pre-market

GE Vernova

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(RTTNews) - GE Vernova Inc. (GEV), an energy equipment manufacturing and services firm, Wednesday reported weak net profit in its second quarter, while adjusted EBITDA and margin increased from last year with growth in revenues.

Further, the firm raised its fiscal 2025 outlook for revenue and adjusted EBITDA margin with strength in Power and Electrification.

In the pre-market activity on the NYSE, GE Vernova shares were gaining around 6.5 percent to trade at $583.70.

In the second quarter, net income was $492 million, lower than prior year's $1.28 billion. Earnings per share fell to $1.86 from $4.65 a year ago.

Adjusted EBITDA, however, climbed to $770 million from last year's $524 million. Adjusted EBITDA margin improved to 8.5 percent from 6.4 percent a year ago.

Total revenues grew 11 percent to $9.11 billion from $8.20 billion last year. Revenue was up 12 percent organically, with strong growth in equipment and services.

GE Vernova orders were $12.4 billion, a growth of 4 percent organically.

Looking ahead, for fiscal 2025, GE Vernova now expects revenue to trend towards the higher end of $36 billion to $37 billion outlook range. Adjusted EBITDA margin is now expected to be 8 percent to 9 percent, raising the low end of the previous guidance of high-single digits.

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