GE Vernova Inc. (GEV) announced a narrowed loss for the third quarter compared to the same time last year, though it did not meet Wall Street expectations. The company reported a financial shortfall of $99 million, equivalent to a loss of $0.35 per share. This performance marks an improvement compared to last year's third-quarter loss of $185 million, or $0.62 per share.
Analysts, as surveyed by Thomson Reuters, had anticipated that the company would report earnings of approximately $0.24 per share, excluding any special items.
In terms of revenue, GE Vernova saw an 8% increase, with quarterly revenue rising to $8.913 billion from $8.253 billion during the previous year.
A summary of GE Vernova Inc.’s results based on generally accepted accounting principles (GAAP) includes:
- Third-quarter earnings resulted in a $99 million loss compared to a $185 million shortfall last year.
- Earnings per share (EPS) were at a loss of $0.35, an improvement from last year's loss of $0.62.
- Revenue for the third quarter increased to $8.913 billion, compared to $8.253 billion in the previous year.
Looking ahead, the company has projected its full-year revenue to be in the range of $34 billion to $35 billion.
