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GE Vernova raises its forecasts for 2025 after a strong second quarter

GE Vernova's revenue rose by 11% in the second quarter, driven by momentum in its Power activities, as the US group raised its financial targets for 2025.

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GE Vernova, a group specialised in providing energy equipment and services, recorded revenue of $9.1bn (USD9.1bn) in the second quarter, up 11% compared to the same period last year. This performance exceeded market expectations, supported by robust activity in the Power segment and the growth in orders.

Growth in orders and operational activity
Orders reached $12.4bn (USD12.4bn) for the period, representing 4% organic growth year-on-year. The Power segment, covering activities related to hydro, nuclear, gas, and steam energy, acted as the main driver, with notable increases in orders and deliveries. By contrast, the wind and electrification divisions recorded a decline in orders, reflecting varied trends across the portfolio’s different segments.

The company’s net profit stood at $492mn (USD492mn), compared to $1.3bn (USD1.3bn) a year earlier, a result influenced by the separation of the General Electric conglomerate into several entities. Earnings per share reached $1.86 (USD1.86), significantly surpassing market expectations.

Adjusted outlook for the 2025 financial year
GE Vernova announced an upward revision of its outlook for 2025. The group now targets revenue at the upper end of the $36 to $37bn (USD36-37bn) range, compared to a previous forecast within the same range, and now expects cash flow between $3 and $3.5bn (USD3-3.5bn), up from the previously announced $2 to $2.5bn (USD2-2.5bn).

Specifically, the Power segment posted a 7% increase in quarterly revenue, reaching $4.8bn (USD4.8bn), stimulated by demand for gas turbines. The Wind segment, which includes both onshore and offshore wind, saw revenue increase by 9% to $2.2bn (USD2.2bn), driven by the North American market. Electrification activities, covering grids, solar energy, storage solutions, and software, recorded a 23% rise in revenue, reaching $2.2bn (USD2.2bn).

Impact of order book and growth management
Chief Executive Officer Scott Strazik highlighted in a statement the increase in the order book by over $5bn (USD5bn) as well as the growth in gas equipment. This order volume confirms the solid demand for GE Vernova in several international markets.

The group continues to implement its strategic plan amid a transformation of the energy market, while maintaining a focus on profitability and cash generation.

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