GE Vernova Powers Ahead: Record Growth, Expanding Margins, and a $119 Billion Backlog
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GE Vernova, a global leader in the electric power industry, operates in three main segments: power, wind, and electrification. In 2024, the company achieved remarkable growth across its operations. The gas power segment hit a milestone with a record 20 gigawatts of gas orders, doubling the previous year's total. Electrification thrived with an 18% revenue boost fueled by strong demand for grid solutions, while the wind segment made strides in reducing EBITDA losses despite a challenging market environment.
The company reported significant margin expansions and nearly doubled its cash flow, amassing an impressive $119 billion backlog.
Looking ahead, GE Vernova is optimistic about future growth opportunities, particularly in decarbonization technologies and small modular nuclear reactors. The company remains committed to operational improvements and cash flow generation as it continues to shape the future of energy.
