GE Vernova Q2 net income $1.28B, adj EBITDA margin 6.4%, raises 2024 guidance

GE Vernova Inc.

2024-Q2 EPS reported $4.22 revenue$15,463,000,000

Net income $1.28B versus ($149M) loss YoY; diluted EPS $4.65.
Revenue $8.2B (+1% reported, +2% organic); adj EBITDA $524M (+$321M), margin 6.4% (+390 bps).
Free cash flow $821M vs ($447M) YoY; cash balance $5.8B.
Raising 2024 guidance: revenue trending to high end of $34-35B; adj EBITDA margin 5-7%; FCF $1.3-1.7B.
Power orders +30% organic; Electrification revenue +19% organic; Wind EBITDA loss narrowed to ($117M).

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