GE Vernova (NYSE:GEV) Earnings Call Presentation

Financial Outlook & Strategy - GE Vernova expects revenue to reach $52 billion by 2028, a $7 billion increase from prior estimates[23] - The company anticipates an adjusted EBITDA margin of 20% by 2028, a 6 percentage point increase[23] - Cumulative free cash flow from 2025 to 2028 is projected to be $22 billion or more, an $8 billion increase from previous forecasts[23] - GE Vernova is targeting at least 1/3 of cash generation to be returned to shareholders[29] Business Segment Performance - Power and Electrification segments are expected to see revenue growth in the high teens from 2025 to 2028[27] - Power and Electrification segments are expected to achieve a 22% adjusted EBITDA margin by 2028, a 6 percentage point increase[23] - Wind segment's adjusted EBITDA margin is expected to be 6% by 2028, a decrease of 4 percentage points[23] Growth & Capacity - Gas turbine deliveries are projected to reach 20 GW annualized output by mid-2026, increasing to approximately 24 GW in 2028[27] - The company has signed contracts for 18 GW of new gas power contracts and expects to have approximately 80 GW under contract by the end of 2025[20] - Electrification backlog is expected to double by 2028, reaching approximately $60 billion[90] Prolec GE Acquisition - The acquisition of the remaining 50% stake of Prolec GE is expected to close by mid-2026[3] - Prolec GE is projected to have revenue of $4.2 billion and an adjusted EBITDA of $1.1 billion by 2028[95]