General Electric Co. - GE STOCK NEWS

GE Aerospace launches as an independent public company, positioned for long-term growth in propulsion, services, and systems. The company generated $32 billion in adjusted revenue in 2023 and aims for $10 billion operating profit in 2028. GE Aerospace completes GE's multi-year transformation, focusing on innovation and shareholder returns.

GE Vernova completes spin-off from GE to focus on accelerating the energy transition, trading independently on NYSE under 'GEV' ticker symbol. The company reaffirms its 2024 financial guidance and presents 2025 and 2028 outlooks, emphasizing sustainability, innovation, and lean practices.

GE Aerospace reaffirms guidance and presents a longer-term financial outlook, aiming to achieve ~$10B operating profit in 2028. The company plans to continue profit and free cash flow growth, enabling business investment and shareholder returns of ~70-75% through dividends and share buy-backs. GE Aerospace will trade publicly as an independent company on April 2, 2024, under the ticker symbol 'GE'.

GE Vernova, a new independent company spun off from GE, reaffirms its financial guidance for 2024 and presents future outlooks. The company plans to focus on sustainability, innovation, and growth, with a commitment to creating a more sustainable power system. GE Vernova's leadership team outlines financial metrics, a capital allocation framework, and a sustainability framework, emphasizing its role in the energy transition market.

General Electric Company (NYSE: GE) has set the spin-off date for GE Vernova on April 2, 2024, with shareholders of record on March 19, 2024, receiving one share of GE Vernova for every four shares of GE owned. Following the spin-off, GE shareholders will retain their GE shares as GE Aerospace shares. GE Chairman and CEO, H. Lawrence Culp, Jr., expressed enthusiasm for the upcoming launch of GE Vernova and GE Aerospace, marking a significant step in the company's transformation into three independent industry leaders.

GE Vernova's Grid Solutions launches GridBeats, a software suite aiming to modernize grid operations and enhance resilience amidst the integration of renewable energy sources and aging infrastructure.

GE files Form 10 for spin-off of GE Vernova as a standalone public company, well-positioned for growth in the energy transition sector. GE Vernova to list on NYSE under ticker symbol 'GEV' in early April.

Assent Inc. appoints Ann R. Klee, an expert in environmental law and sustainability, to its Board of Directors to enhance strategic focus on supply chain sustainability solutions. Klee's vast experience in environmental law and leadership roles will drive Assent's long-term sustainable growth and success.

GE Vernova's Onshore Wind business (GE) announced a record order for 674 3.6-154 wind turbines, providing 2.4 GW of power at the SunZia Wind project in New Mexico, reinforcing GE Vernova's commitment to American manufacturing. The project is expected to be the largest wind project in US history and the Western Hemisphere at over 3.5 GW total project size, bringing GE Vernova's installed base with Pattern Energy to 4.3 GW. The deal signifies a monumental investment in the U.S. wind power market and demonstrates GE Vernova's ability to deliver on its workhorse strategy in Onshore Wind. GE Vernova's 3.6-154 turbine, designed specifically for the U.S., is expected to bring the latest in innovation of turbine and blade design, reinforcing GE Vernova's focus on taking full advantage of the Inflation Reduction Act to revitalize and enhance American manufacturing. The project will be supplied through GE Vernova's nacelle facility in Pensacola, Florida, as well as tower manufacturing facilities in Belen, New Mexico, Pueblo, Colorado, and Amarillo, Texas. GE Vernova has been the number one provider of onshore wind turbine installs in the U.S. for the last five years and currently has a fleet of more than 55,000 wind turbines installed around the world.