BUZZ-GE Vernova falls after wider-than-expected Q1 loss

Reuters04-25

** Shares of General Electric spinoff GE Vernova fall 1.2% to $144.50 premarket

** Co reports wider-than-expected Q1 loss due to weakness in wind segment

** Q1 adj. loss/shr of $0.41 vs. est. of loss of $0.37 - LSEG data

** GEV reports orders of $1.15 bln from wind segment, down 40% organically due to lower demand for onshore equipment

** Co posts Q1 loss/shr of $0.47 and revenue of $7.26 bln

** GEV became an independent company earlier this month following three-way split of General Electric

** Stock has gained 6.9% in the last month

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment