GE Vernova (GEV) reported a quarterly profit as a standalone company for the first time Wednesday in the energy company's second report since 澳洲幸运5官方开奖结果体彩网:completing its split from GE Aerospace (GE) earlier this year.

While revenue rose just 1% year-over-year to $8.2 billion, GE Vernova posted a profit of $1.28 billion, compared with a $149 million loss the company said it posted in the second quarter of 2023, when it was still part of the General Electric conglomerate. Revenue nearly met expectations of $8.24 billion, while 澳洲幸运5官方开奖结果体彩网:analysts projected a much smaller profit of $268.4 million, according to estimates compiled by Visible Alpha.

“GE Vernova delivered another strong quarter with EBITDA margin expansion across all segments and substantial cash improvement,” GE Vernova 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Scott Strazik said. “Global electrification and decarbonization trends continue to drive demand for our ꦓproducts and services, and we are deliveri♛ng value for our stakeholders."

GE Vernova Sees Wind Segment 'Approaching Profitability' by Year End

Two of GE Vernova's three divisions are profitable, its power and electrification segments, while the 澳洲幸运5官方开奖结果体彩网:company has said it expects the wi❀nd power generation division to be "approaching profitability" by the end of the year.

Revenue decreased for the wind segment 21% to $2.06 billion, but the division came closer to being profitable than it did a year ago, with earnings before intereဣst, taxes, depreciation, and amortization (EBIT෴DA) coming out to a $117 million loss, much 𒆙smaller than last year's loss of🐻 $259 million.

The wind segment has been negatively impacted in recent weeks after a broken wind turbine blade washed up on a beach in Massachusetts, closing beaches as the debris was cleaned up. Strazik told Barron's Wednesday that the company has identified a manufacturing issue that caused the blade to detach from the turbine.

GE Vernova shares essentially flat at $170.50 about 30 minutes before the opening bell🎃 Wednesday.