GE Vernova Soars 5.67% in Pre-Market After Raising Revenue Forecast on Strong Power Demand

Stock Track07-22

GE Vernova Inc. (GEV) shares surged 5.67% in pre-market trading on Wednesday, following the release of its second-quarter results and an upward revision to its full-year outlook.

The power equipment maker reported quarterly revenue of $11.10 billion, surpassing analyst estimates of $10.73 billion. The company also announced strong second-quarter orders totaling $24.2 billion, driven by accelerating demand across its power and electrification units.

GE Vernova raised its full-year revenue forecast to a range of $45.5 billion to $46.5 billion, up from its previous guidance of $44.5 billion to $45.5 billion. The company cited robust power demand, fueled by data-center expansion and electrification trends, as key factors behind the improved outlook. Additionally, GE Vernova provided an optimistic free cash flow projection of $11.5 billion to $12.5 billion for the fiscal year.

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