GE Vernova's Wind Business Just Fell 40%. Nobody's Talking About It Because of the Gas Turbine Boom.
The energy giant's weakest link isn't a red flag.
Overview
GE Vernova (NYSE: GEV), which was spun off from General Electric (NYSE: GE) two years ago, posted some impressive numbers in its second-quarter earnings report in late July. Its revenue rose 22% year over year to $11.1 billion, beating analysts' estimates by $330 million, while its total orders surged 88% organically to $24.2 billion.
Within that total, GE Vernova's Power and Electrification orders surged 134% and 66% organically. The AI boom drove more utilities to purchase the Power segment's gas turbines and the Electrification segment's grid equipment.
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Details
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Originally published at www.fool.com.
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