GE Vernova Raises FY24 Revenue Guidance To Towards Higher End of $34B-$35B Range vs $34.63B Est.; Raises FY24 Adjusted EBITDA Margin Guidance From Higher End of Mid-Single Digits To 5%-7%; Raises FY24 Free Cash Flow Guidance From $0.7B-$1.1B To $1.3B-$1.7B
Portfolio Pulse from Benzinga Newsdesk
GE Vernova has raised its FY24 revenue guidance to the higher end of the $34B-$35B range, surpassing the $34.63B estimate. The company also increased its FY24 adjusted EBITDA margin guidance to 5%-7% and its FY24 free cash flow guidance to $1.3B-$1.7B.
July 24, 2024 | 10:28 am
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GE Vernova has raised its FY24 revenue guidance to the higher end of the $34B-$35B range, surpassing the $34.63B estimate. The company also increased its FY24 adjusted EBITDA margin guidance to 5%-7% and its FY24 free cash flow guidance to $1.3B-$1.7B.
The raised revenue, EBITDA margin, and free cash flow guidance indicate strong financial performance and positive future prospects for GE Vernova. This is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100