GE Vernova beats analyst estimates for the September quarter on profit and revenue

what happened

GE Vernova Inc. reported adjusted earnings of $4.81 per share for the quarter ended September 30, up from $1.67 a year earlier. According to Earnings Summary, which compiled the figures from LSEG data, analysts had expected $3.97 per share, with forecasts ranging from $3.12 to $4.91.

Revenue climbed 26.8% to $12.64 billion, compared with the $11.99 billion analysts anticipated. Net income for the quarter came to $1.29 billion.

The shares have gained 37.0% so far this year but fell 5.8% over the past quarter. Of the analysts covering the stock, 31 rate it strong buy or buy, six hold and one sell or strong sell. Five analysts cut their earnings estimates in the last 30 days.

why it matters

Both profit and revenue came in above consensus, a positive signal for companies tied to power generation equipment. However, the mean earnings estimate over the last three months fell about 2.7%, so the impact on analyst forecasts may be mixed.

market impact

GE Vernova: profit and revenue beat supports the stock and the power equipment sector

• ▲GE Vernova shares pressure up — profit and revenue beat analyst forecasts

tags

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