Q4 24 EPS
$N/A
Est. $2.49
Q4 24 Revenue
$10.60B
vs S&P Since Q4 24
+132.2%
BEATING MARKET
GEV +151.0% vs S&P +18.8%
Full Year 2024 Results
FY 24 Revenue
$34.90B
BEAT +0.47%
Est. $34.74B
Market Reaction
Did GEV Beat Earnings? Q4 2024 Results
GE Vernova capped its first full reporting year as an independent company with a record-breaking fourth quarter, posting revenue of $10.60 billion, a 5.5% increase year-over-year and 2.32% above the consensus estimate of $10.36 billion, while net inc… Read more GE Vernova capped its first full reporting year as an independent company with a record-breaking fourth quarter, posting revenue of $10.60 billion, a 5.5% increase year-over-year and 2.32% above the consensus estimate of $10.36 billion, while net income surged $300 million to $500 million, expanding margins by 260 basis points to 4.6%. The single most compelling driver of the quarter was demand momentum: orders reached a record $13.20 billion, up 22% organically, representing roughly 1.3 times revenue and signaling a durable backlog build across all three segments. The Power segment led the charge with $6.60 billion in orders, including 24 heavy-duty gas turbine units, as customers like NextEra increasingly turn to gas generation to meet surging data center and industrial demand. Full-year free cash flow turned decisively positive at $1.70 billion, and the company exited 2024 with $8.20 billion in cash. The fast-growing energy company reaffirmed 2025 revenue guidance of $36 billion to $37 billion, with free cash flow projected between $2 billion and $2.50 billion.
Key Takeaways
- • Record orders of $13.2B in Q4, up 22% organically, approximately 1.3x revenue
- • Higher services and equipment volume with positive price in all segments
- • Margins expanded from higher volume, price, and productivity more than offsetting inflation
- • Onshore Wind delivered its most profitable quarter in three years
- • Grid Solutions led Electrification segment growth
- • Gas Power equipment demand drove Power segment with 24 heavy-duty unit orders in Q4
GEV YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
GEV Revenue by Segment
With YoY comparisons, source: SEC Filings
“GE Vernova built a strong foundation in 2024 with solid orders and revenue growth, as well as significant margin expansion and cash generation. We saw strength in Power and Electrification and improvement in Wind, while growing our equipment backlog at better margins.”
— Scott Strazik, Q4 2024 Earnings Press Release
GEV Earnings Trends
GEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GEV EPS Trend
Earnings per share: estimate vs actual
GEV Revenue Trend
Quarterly revenue: estimate vs actual
GEV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | $9.30B | +0.36% |
| Q4 25 FY | $3.22 | — | — | $11.00B | — |
| FY Full Year | $7.76 | — | — | $38.10B | +2.14% |
| Q3 25 | $1.86 | — | — | $10.00B | +9.17% |
| Q1 25 | $0.37 | — | — | $8.00B | +5.99% |
| Q4 24 FY | $2.49 | — | — | $10.60B | — |
| FY Full Year | $3.23 | — | — | $34.90B | +0.47% |