Power And Electrification Propel GE Vernova's Q2 Performance, Wind Orders Lag, Guidance Raised
Power And Electrification Propel GE Vernova's Q2 Performance, Wind Orders Lag, Guidance Raised
GE Vernova Inc. (NYSE:GEV) reported second-quarter 2024 revenue growth of 1% year-over-year to $8.204 billion, missing the consensus of $8.259 billion.
GE Vernova Inc. (紐交所: GEV)報告2024年第二季度營業收入同比增長1％至8204萬元，未達到一致預期的8259萬元。
Revenue was driven by strength in Electrification and Power and positive pricing in all segments. Services revenue grew 7% and 9% organically.
收入增長得益於電氣化和動力部門的實力以及所有板塊的正向定價。服務業收入有機增長了7％和9％。
Orders totaling $11.8 billion decreased 7% organically, mainly due to the cancellation of a large Offshore Wind equipment order from the previous year. Service orders saw double-digit growth, driven by Power and Electrification.
訂單總額達到118億美元，有機下降7％，主要是由於取消了上一年的大型海上風力設備訂單。服務訂單雙位數增長，電力和電氣化帶動增長。
EPS for the quarter stood at $4.65, compared to $(0.55) a year ago. Net income recovered to $1.28 billion from a loss of $149 million last year.
本季度每股收益爲4.65美元，去年爲每股虧損0.55美元。淨利潤從去年的1.49億美元虧損恢復至12.8億美元。
Adjusted EBITDA margin expanded by 390 bps to 6.4% and improved 320 bps to 7.2% on an organic basis, with Adjusted EBITDA of $524 million (+158% YoY).
調整後的EBITDA利潤率擴大了390個點子至6.4％，有機基礎上提高320個點子至7.2％，調整後的EBITDA爲52400萬美元（同比增長158％）。
Power revenue was $4.455 billion (+8% YoY), and Orders reached $4.975 billion (+27% YoY), led by Gas Power, with increased HA gas turbines and double-digit services growth, and Hydro Power equipment.
電力收入爲445.5萬元（同比增長8％），訂單達到49.75億美元（同比增長27％），其中以燃氣動力爲主，增加了HA燃氣輪機和雙位數的服務增長，水電動力設備。
Wind revenue was $2.062 billion (-21% YoY), and Orders reached $2.16 billion (-44% YoY), reflecting the cancellation of a large Offshore Wind equipment order.
風能收入爲2062萬元（同比下降21％），訂單達到2160萬美元（同比下降44％），反映出取消了一筆大型海上風能設備訂單。
Electrification revenue was $1.79 billion (+19% YoY), and Orders declined 4% YoY to $4.823 billion. Strong demand continued for transformers, switchgear, and circuit breakers.
電氣化收入爲1.79億元（同比增長19％），訂單同比下降4％至48.23億美元。變壓器，開關設備和斷路器的需求持續強勁。
Cash from operating activities for the quarter totaled $978 million, compared to $288 million used a year ago. Free cash flow stood at $821 million.
本季度經營活動現金流量總額爲9780萬美元，相比去年淨使用現金2880萬美元增長。自由現金流爲8210萬美元。
In the second quarter of 2024, GE Vernova experienced two fatalities and updated its Life Saving Rules as fatality-free operations remain a top priority.
在2024年第二季度，GE Vernova經歷了兩起死亡事故，並更新了其救生規則，因爲無死亡事故的運營仍然是首要任務。
"Global electrification and decarbonization trends continue to drive demand for our products and services, and we are delivering value for our stakeholders. Our lean operating model is focused on improving safety, quality, delivery and cost as we execute for our customers and innovate breakthrough energy transition technologies. Given our strong first half performance and momentum in our Power and Electrification segments, we are raising our full-year 2024 guidance," commented GE Vernova CEO Scott Strazik.
“全球電氣化和減排趨勢繼續推動我們的產品和服務需求，我們正在爲股東創造價值，我們的精益運營模式專注於提高安全，質量，交貨和成本，以執行我們的客戶並創新突破能源轉型技術。由於我們的電力和電氣化業務的強勁上半年表現和勢頭，我們提高了2024年全年的指引，“ GE Vernova CEO Scott Strazik評論道。
2024 Guidance: GE Vernova now expects revenue to trend towards the higher end of $34 billion-$35 billion versus $34.629 billion, and adjusted EBITDA margin of 5%-7%, up from the higher end of mid-single digits.
2024年指引：GE Vernova現預計營收將趨近於34億至35億美元的高端，而不是346.29億美元，並將調整後的EBITDA利潤率從中單位數的高端增加至5％-7％的高端。
The company now expects free cash flow of $1.3 billion-$1.7 billion, up from $0.7 billion-$1.1 billion.
該公司現預計，自由現金流將增長13億至17億美元，而不是7億至11億美元。
Price Action: GEV shares traded lower by 0.29% at $170.009 premarket at the last check Wednesday.
價格行動：截至上週三最後一次交易前，GEV股票盤前下跌0.29％，報170.009美元。