GE Vernova sees FY revenue trending toward higher end of $34B-$35B view

GE Vernova is raising its 2024 financial guidance and now expects revenue to trend towards the higher end of $34B-$35B and adjusted EBITDA margin of 5%-7%, up from the higher end of mid-single digits. Consensus is $34.63B. Additionally, GE Vernova now expects free cash flow of $1.3B-$1.7B, up from $0.7B-$1.1B. Segment guidance is: Power: mid-single digit organic revenue growth and ~150-200 basis points of organic EBITDA margin expansion, up from ~100 basis points. Wind: flat organic revenue growth, approaching profitability. Electrification: mid- to high-teen organic revenue growth, up from low double-digits, and high single-digit EBITDA margin, up from mid-single digits.