GE Vernova Completes Spin-Off and Begins Trading on the New York Stock Exchange
- A purpose-built company to electrify and decarbonize the world, uniquely positioned with a scope and scale of solutions to accelerate the energy transition
- Executing with sustainability, innovation and lean at its core and delivering disciplined growth, margin expansion, higher free cash flow, and effective capital allocation
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Trading on the
New York Stock Exchange under “GEV” ticker symbol
“Today, GE Vernova becomes an independent company singularly focused on accelerating the energy transition to create a more sustainable future,” said
GE Vernova has more than 80,000 employees across more than 100 countries. Many of the world’s leading utilities, developers, governments, and large industrial electricity users rely on its installed base to generate, transfer, orchestrate, convert, and store electricity reliably and efficiently. With an installed base of over 7,000 gas turbines, the world’s largest, approximately 55,000 wind turbines, and leading-edge electrification technology, GE Vernova helps generate approximately 30% of the world’s electricity.
At the company’s Investor Day in March, GE Vernova reaffirmed its 2024 financial guidance, and presented its 2025 financial guidance. Additionally, GE Vernova provided its outlook by 2028 including achieving mid-single digit organic revenue growth*, 10% adjusted EBITDA margin*, and 90-110% free cash flow* conversion.
GE Vernova serves a vital
The spin-off of GE Vernova was achieved by GE’s distribution of all shares of the common stock of
*Non-GAAP Financial Measure
GE Vernova will announce its first quarter earnings on
Non-GAAP Financial Measures
In this document, the Company sometimes uses information derived from consolidated financial data but not presented in its financial statements prepared in accordance with
The Company cannot provide a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measure for free cash flow* conversion in the 2028 outlook without unreasonable effort due to the uncertainty of the costs and timing associated with potential restructuring actions and the impacts of depreciation and amortization.
Forward-Looking Statements
This release contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s (the Company) expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions; the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy; its expected financial performance, including cash flows, revenues, organic growth, margins, earnings and earnings per share; the Company’s credit ratings and outlooks; its funding and liquidity; its business’ cost structures and plans to reduce costs; restructuring; goodwill impairment or other financial charges; or tax rates. For GE Vernova, particular areas where risks or uncertainties could cause its actual results to be materially different than those expressed in its forward-looking statements include: the Company’s success in executing planned and potential transactions; changes in macroeconomic and market conditions and market volatility, including risk of recession, inflation, supply chain constraints or disruptions, interest rates, the value of securities and other financial assets, oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on the Company’s business operations, financial results and financial position; global economic trends, competition and geopolitical risks, including impacts from the ongoing geopolitical conflicts (such as the
Additional Information
GE Vernova’s website at www.gevernova.com/investors, as well as GE Vernova’s LinkedIn and other social media accounts, contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit these websites from time to time, as information is updated, and new information is posted.
About GE Vernova
GE Vernova is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses of
GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova’s website and LinkedIn. https://www.gevernova.com/
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Source: GE Vernova