The company's Q3 performance showcased robust revenue growth.
Traders and investors are watching GE Vernova Inc's GEV fourth-quarter financial results, confirmed for Wednesday before the market open. The company's third-quarter performance showcased robust revenue growth, strong order momentum and improved cash generation, potentially setting the stage for sustained momentum.
What To Know: GE Vernova's core businesses -- Power, Wind and Electrification -- each play a crucial role in advancing cleaner energy solutions.
Power remains a cornerstone, with third-quarter revenue of $4.206 billion, an 8% increase year-over-year, driven by demand for gas turbines and services. Electrification saw a 22% revenue surge to $1.928 billion, propelled by growth in Grid Solutions and Power Conversion. Wind revenue was flat at $2.89 billion, though soft onshore wind orders outside North America remain a headwind.
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With orders up 17% organically and free cash flow trending towards the higher end of guidance, GE Vernova demonstrated resilience despite mixed third-quarter earnings.
Investors will watch for updates on cost containment, profitability in wind, and execution of its services-focused strategy as the company approaches its 2024 guidance targets.
Additionally, the company in October reaffirmed its 2024 guidance, expecting revenue to reach the higher end of $34 billion to $35 billion and free cash flow trending toward the upper range of $1.3 billion to $1.7 billion.
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How To Buy GEV Stock
By now you're likely curious about how to participate in the market for GE Vernova - be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the case of GE Vernova, which is trading at $404.34 as of publishing time, $100 would buy you 0.25 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, GEV has a 52-week high of $407.44 and a 52-week low of $119.00.
GEVGE Vernova Inc$399.82-0.40%WatchlistOverviewMarket News and Data brought to you by Benzinga APIs