GE Vernova Stock Opens at All-Time High as Energy Company Affirms Outlook

GE Vernova ( GEV ) shares opened at a new record high Wednesday even though the energy company reporting worse-than-expected fourth-quarter results.

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

GE Vernova's wind segment reported earnings before interest, taxes, depreciation and amortization (EBITDA) of just $19 million, with the segment losing $588 million on the year. It previously said the unit should be "approaching profitability" by the end of the fiscal year.

GE Vernova Backs 2025 Outlook

The company affirmed its outlook for 2025, expecting revenue between $36 billion and $37 billion, including organic growth in its power and electrification segments and a decline in the wind division.

Last week, Bank of America analysts upgraded and lifted their price target for GE Vernova's stock, citing optimism that the company could benefit from rising prices for gas turbines.

Despite falling in premarket trading immediately following the report, GE Vernova shares rose more than 2% shortly after markets opened, and have more than tripled since the firm spun off from GE Aerospace ( GE ) last April. GE Aerospace is set to report its own fourth-quarter results Thursday.

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