GE Vernova backs FY24 revenue view $34B-$35B, consensus $34.75B

GE Vernova reaffirmed its 2024 financial guidance for revenue of $34B-35B, adjusted EBITDA margin at the high end of mid-single digits, cash from operating activities of $1.5B-1.9B, and free cash flow of $0.7B-1.1B. Additionally, GE Vernova reaffirmed segment guidance of: Power: mid-single digit organic revenue growth with ~100bps of organic EBITDA margin expansion. Wind: flat organic revenue growth, approaching profitability. Electrification: low double-digit organic revenue growth with mid-single digit segment EBITDA margins.