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Investing.com -- Shares in GE Vernova LLC (NYSE:GEV) surged more than 9% in premarket trading Wednesday after the energy equipment maker reported first-quarter earnings and revenue that beat analyst expectations.
The company delivered first-quarter earnings per share (EPS) of 91 cents, well ahead of the 63 cents expected by analysts. Revenue for the period stood at $8.03 billion, also beating the $7.55 billion expected by analysts.
By segment, Power generated $4.42 billion in revenue versus expectations of $4 billion. Wind revenue came in at $1.85 billion, above the $1.69 billion estimate, while Electrification revenue slightly missed forecasts at $1.88 billion compared to $1.92 billion expected.
Adjusted free cash flow was notably strong at $975 million, more than four times the consensus estimate of $209.5 million.
For the full year, GE Vernova reaffirmed its revenue guidance of $36 billion to $37 billion, compared with the $36.76 billion average analyst forecast.
The company also maintained its outlook for adjusted free cash flow in the range of $2 billion to $2.5 billion, compared with expectations of $2.09 billion.