GE Vernova Stock Opens at All-Time High as Energy Company Affirms Outlook | Global News Avenue

General Electric Vernova (GEVShares of the energy company opened at a new high on Wednesday, even after the energy company reported fourth-quarter results that missed expectations.

The company reported net income of $484 million, or $1.73 per share, on revenue of $10.56 billion. Analysts surveyed by Visible Alpha expected Profit was $634.5 million, or $2.30 per share, on revenue of $10.74 billion.

GE Vernova Wind Power Business Unit Report Earnings before interest, taxes, depreciation and amortization (EBITDA) With just $19 million, the division lost $588 million that year. I said before that the unit should be “Close to profitability” by the end of this fiscal year.

GE Vernova supports vision for 2025

The company confirmed its outlook for 2025, projecting revenue in the range of $36 billion to $37 billion, including organic growth in its power and electrification segments and declines in its wind energy segment.

Last week, Bank of America analysts upgraded their ratings raised their price targets GE Vernova shares, citing optimism that the company could benefit from rising gas turbine prices.

Although premarket trading fell immediately after the report, GE Vernova shares rose more than 2% shortly after the bell and have more than tripled since the company’s split from GE Aerospace (General Electric) last April. GE Aerospace will report on its own situation Fourth quarter results Thursday.