GE Vernova (GEV) shares opened at a new record high Wednesday even though the energy compa🧸ny 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 (E🐠BITDA) of just $19 million, with the segment losing $588 million on the year. It previously said the unit should be 澳洲幸运5官方开奖结果体彩网:"approaching profitability" by the end of the fiscal year.

GE Vernova Backs 2025 Outlook

The company affirmed its outlook for 2025, expecting revenue betwee📖n $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 澳洲幸运5官方开奖结果体彩网:lifted their price target for GE Vernova's stock, citing optimism 🤪that t൩he 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 澳洲幸运5官方开奖结果体彩网:fourth-quarter results Thursday.