GE VERNOVA LLC - GEV STOCK NEWS

GE Vernova (NYSE: GEV) has announced its quarterly dividend declaration for the second quarter of 2025. The Board of Directors has set the dividend at $0.25 per share, which will be paid on May 16, 2025, to shareholders of record as of April 18, 2025.

The company noted that future dividend declarations will be subject to Board discretion and will depend on various factors including earnings, financial condition, cash requirements, and prospects.

Homer City Redevelopment (HCR) and Kiewit Power Constructors have announced plans to transform Pennsylvania's former largest coal-burning power plant into a 3,200-acre natural gas-powered data center campus. The project will feature seven GE Vernova (NYSE: GEV) hydrogen-enabled gas turbines, with first deliveries expected in 2026.

The facility will generate up to 4.5 GW of power to support AI and high-performance computing needs, reducing greenhouse gas emissions by 60-65% per megawatt hour compared to the former coal plant. The project represents the largest capital investment in Pennsylvania's history, with an initial investment exceeding $10 billion.

Key benefits include creating over 10,000 construction jobs and approximately 1,000 permanent positions. Construction is expected to begin this year, with power production starting by 2027. The project will utilize existing infrastructure including transmission lines connected to PJM and NYISO power grids.

NRG Energy (NYSE:NRG) has partnered with GE Vernova (NYSE: GEV) and Kiewit's subsidiary TIC in a strategic venture to accelerate new electricity generation capacity, addressing growing demand from computing power and generative AI.

The collaboration will initially focus on advancing four projects totaling over 5 gigawatts (GW) of new natural gas combined cycle power plants for the ERCOT & PJM markets. The first 1.2GW project, featuring two 7HA gas turbines from GE Vernova, is scheduled to begin commercial operation in 2029, with subsequent projects planned through 2032.

The venture combines NRG's power generation expertise (13GW capacity), GE Vernova's equipment manufacturing capabilities, and Kiewit's EPC experience. The model is scalable with potential to expand to 10-15GW across the U.S.

GE Vernova (NYSE:GEV) announces plans to invest nearly $600 million in U.S. factories and facilities over the next two years, creating approximately 1,500 new jobs. This investment is part of a larger $9 billion global capex and R&D investment plan through 2028.

The investment includes: $300 million for gas turbine manufacturing with 850 new jobs; $20 million for grid solutions expansion creating 260 jobs; $50 million for nuclear operations in Wilmington; $100 million for onshore wind facilities; $10 million for solar and energy storage manufacturing creating 270 jobs; and $100 million for the Advanced Research Center in Niskayuna.

Currently operating with over 18,000 workers across 50 states and 18 U.S. manufacturing facilities, GE Vernova's technology produces approximately 25% of the world's energy across 140 countries.

Chevron (CVX), Engine No. 1, and GE Vernova have announced a partnership to develop power solutions for U.S. data centers using natural gas. The joint venture aims to deliver up to 4 gigawatts (GW) of power capacity, equivalent to powering 3-3.5 million U.S. homes, with initial service targeted by the end of 2027.

The project, dubbed 'power foundries,' will utilize seven U.S.-made GE Vernova 7HA natural gas turbines and will be located in the U.S. Southeast, Midwest, and West regions. The power generation will initially bypass the existing transmission grid to avoid increasing electricity prices for consumers. The facilities will be designed with flexibility to integrate carbon capture and storage (capable of capturing >90% CO2) and renewable energy resources.

This initiative aims to support the growing demand for electricity in data centers, particularly for AI development, while creating thousands of jobs and contributing to U.S. reindustrialization.

GE Vernova (NYSE: GEV) has announced two significant shareholder returns initiatives: a quarterly dividend of $0.25 per share and an initial $6 billion share repurchase program. The dividend will be paid on January 28, 2025, to shareholders of record as of December 20, 2024. The company's Board of Directors will determine future dividend payments based on various factors including earnings, financial condition, and cash requirements. The share buyback program has no expiration date but can be suspended or discontinued at any time.

GE Vernova (NYSE: GEV) has raised its multi-year financial outlook, announcing plans to achieve ~$45B of revenue and 14% adjusted EBITDA margin by 2028. The company plans to invest ~$4B in capex and ~$5B in R&D through 2028 to drive growth and innovation. GE Vernova expects to generate at least $14B of cumulative free cash flow from 2025 to 2028.

The Board of Directors has declared a $0.25 per share quarterly dividend, payable in Q1 2025, and approved an initial $6B share repurchase authorization. The company reaffirmed its 2024 revenue guidance of $34-35B and raised its 2025 guidance to $36-37B, with high-single-digit organic revenue growth expected through 2028.

GE Vernova Inc. (NYSE: GEV) advises shareholders to reject TRC Capital Investment 's 'mini-tender' offer, which is 7.39% below the current market price. TRC's offer seeks to purchase 1 million GE Vernova shares at $155 each, representing 0.4% of outstanding shares. GE Vernova emphasizes that shareholders should not tender their shares due to the below-market offer and the risk of receiving a price lower than the market value. The offer is subject to conditions set by TRC Capital, including a 5% price decrease limit. GE Vernova is not associated with TRC Capital and warns shareholders about the SEC's caution on mini-tender offers. Shareholders are advised to consult with financial advisors and avoid responding to TRC Capital's offer.