GE Vernova starts trading in New York as independent company

GE Vernova's 6-MW onshore wind turbines at a site in New York. Picture credit: GE Vernova.

GE Vernova (NYSE:GEV) has completed its spin-off from General Electric Co and is today starting its trading on the New York Stock Exchange (NYSE) under the ticker symbol GEV.

“Today, GE Vernova becomes an independent company singularly focused on accelerating the energy transition to create a more sustainable future,” stated chief executive Scott Strazik.

Describing itself as a purpose-built company to electrify and decarbonise the world, GE Vernova has more than 80,000 employees across more than 100 countries. The business, with its power, wind and electrification units, serves a USD-265-billion (EUR 245bn) industry segment that is projected to grow to USD 435 billion by 2030, its statement points out.

At its Investor Day in March, GE Vernova confirmed its 2024 financial guidance and presented a 2025 forecast as well as outlook by 2028. These are in the table below:

	2024 Guidance	2025 Guidance	Outlook by 2028
Revenue	USD 34 billion-35 billion	Mid-single digit organic revenue growth	Mid-single digit organic revenue growth
Adjusted EBITDA Margin	Mid-single digit (high-end)	High-single digit (low-end)	10%
Free cash flow	USD 0.7 billion-1.1 billion	USD 1.2 billion-1.8 billion	90-110% conversion