On August 12, GE Vernova Inc. rose 3.47% in regular trading, trading at $1,043.5/share, with turnover of $164 million, extending its recent upward trajectory.
On the news front, the company recently announced a $166 million investment in western Pennsylvania to create over 700 high-skilled manufacturing jobs, along with a separate $138 million expansion plan expected to add 275 positions by 2028. On the industry level, global gas turbine orders are surging, with the company's formal orders and slot reservations totaling 116GW, representing a 115% year-over-year increase. CEO Scott Strazik stated the company expects at least 125GW of gas equipment under contract by year-end, with production targets of 20GW annually by Q3, scaling to 24GW by 2028 and 30GW by 2030.
Additionally, sustained AI data center power demand has driven the company to a state of being mostly sold out through 2030, providing strong medium-to-long-term growth visibility. The company also raised its full-year free cash flow guidance to $11.5-$12.5 billion from a prior $6.5-$7.5 billion range.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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