GE Vernova Inc. reported on Wednesday that its revenue for the fourth quarter of 2024 increased by 5% on a yearly basis, reaching $10.6 billion, with net income surging 136% to $484 million and diluted earnings per share (EPS) jumping 140% to $1.73. However, the figures still missed estimates. Orders increased 22% year-on-year to $13.2 billion, led by power and electrification equipment.
For the full year, the company posted sales of $34.9 billion, representing a 5% annual rise. Net income stood at $1.6 billion compared to a $474 million loss in 2023 and the diluted EPS climbed to $5.58 from a $1.6 loss a year ago.
GE Vernova also reaffirmed its 2025 guidance of revenue between $36 billion and $37 billion and free cash flow between $2 billion and $2.5 billion.
GE Vernova's shares plunged 6.25% in premarket trade after the earnings release.
