GE Vernova heads into Q3 report with revenue expected to grow 20.5%

what happened

GE Vernova is scheduled to announce third-quarter earnings on Wednesday before the market opens, according to a preview published by StockStory. Last quarter revenue reached $11.1 billion, up 21.9% year on year and above analyst forecasts. Full-year revenue guidance slightly topped expectations, but EPS came in well below estimates.

The market expects revenue to rise 20.5% year on year, an improvement from the 11.8% gain in the same quarter last year. Analysts have mostly kept their estimates unchanged over the past 30 days, and the company has missed revenue forecasts several times over the last two years. The stock is down 9.5% over the past month, trading at $859.90 against an average analyst price target of $1,224.

Peers in the electrical systems group have already reported. Allegion shares rose 12.6% after its results, while Acuity Brands was unchanged. The broader group has averaged a 4.2% decline over the last month.

why it matters

For markets, the report is a read on demand for power equipment and grid-related spending. Because the preview is based on estimates, the stock reaction will depend on actual figures and management commentary on the outlook.

market impact

Power equipment stocks: GE Vernova's results may set sentiment for the electrical systems sector

tags

instruments