Should You Buy GE Vernova Stock Ahead of Q3 Earnings Report?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 18 2024
0mins
Should l Buy GEV?
Source: NASDAQ.COM
Earnings Report Overview: GE Vernova Inc. (GEV) is set to report its third-quarter 2024 results on October 23, with revenue estimates at $8.90 billion and earnings at 22 cents per share, although the bottom-line estimate has dropped significantly by 74.1% in the past two months.
Business Segment Performance: While GEV's Power business segment is expected to show strong performance due to increased orders, its Wind business segment may struggle due to cost pressures and low order volumes, potentially impacting overall revenues and earnings negatively.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GEV?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GEV
Wall Street analysts forecast GEV stock price to rise
24 Analyst Rating
20 Buy
4 Hold
0 Sell
Strong Buy
Current: 816.560
Low
714.00
Averages
858.23
High
1087
Current: 816.560
Low
714.00
Averages
858.23
High
1087
About GEV
GE Vernova Inc. is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. It designs, manufactures, delivers, and services technologies to create a sustainable electric power system, enabling electrification and decarbonization. Power segment includes the design, manufacture, and servicing of gas, nuclear, hydro, and steam technologies, providing a critical foundation of dispatchable, flexible, stable, and reliable power. Wind segment includes its wind generation technologies, inclusive of onshore and offshore wind turbines and blades. Electrification segment includes grid solutions, power conversion and storage, and electrification software technologies required for the transmission, distribution, conversion, storage, and orchestration of electricity from point of generation to point of consumption. Its accelerator business includes advanced research, consulting services and financial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
GE Vernova Inc: Lincoln Electric System Enhances Terry Bundy Plant with GE Vernova Gas Turbines
Expansion of Electric System: The Lincoln Electric System is expanding its infrastructure to enhance service delivery.
New Plant Development: A new gas turbine plant is being developed in collaboration with Gevernova to improve energy production capabilities.
See More
Anthropic Leads AI Revolution, Software Industry Faces Challenges
- AI Disrupts Traditional Software: The rise of Anthropic poses significant challenges to traditional software companies like Workday and Salesforce, particularly in the application of AI technology, threatening their market share and customer loyalty.
- Surge in Capital Expenditures: Tech giants like Amazon and Google have significantly raised their capital expenditure outlooks, with Amazon projecting spending to reach $200 billion, far exceeding the $147 billion consensus, which could impact stock performance and investor confidence.
- Intensified Market Competition: The rapid advancement of AI technology raises questions about the value of enterprise software, leading investors to adopt a pessimistic view on the future of traditional software companies, especially in labor-intensive areas that may face workforce reductions due to AI adoption.
- Investor Confidence Shaken: Despite significant advancements by companies like Anthropic and OpenAI in the AI space, market confidence in traditional software companies is waning, resulting in poor stock performance over the past six months and raising concerns about future profitability.
See More
Market Divergence: Industrials Surge While Tech Stocks Struggle
- AI Fears Hit Financial Stocks: Concerns over a new AI-driven tax planning feature led to significant declines in Wells Fargo and Capital One, with shares dropping over 7.4% and nearly 7% respectively, highlighting investor sensitivity to potential threats in the wealth management sector, although Wells Fargo's rating upgrade on Friday provided some stabilization.
- Strong Performance in Industrials: Stocks like Eaton, Honeywell, and GE have continued their strong performance in 2026, with Eaton's shares rising over 4% last week and up 22% year-to-date, reflecting market optimism about economic recovery and driving what Jim Cramer describes as an
See More
AI Drives Exponential Growth in Capital Expenditure
- Surge in Capital Expenditure: Top hyperscalers are expected to increase capital expenditures by 70% this year, with Amazon, Alphabet, Meta, and Microsoft planning a combined spending of over $600 billion, indicating a strong commitment to AI infrastructure investment.
- Mixed Market Reactions: Despite the significant increase in capital spending, Amazon and Microsoft's shares have dropped 12% and 16% respectively, while Alphabet's stock is down less than 1% and Meta's has risen by 1%, reflecting investor concerns about the timing of returns on these investments.
- Infrastructure Investment Opportunities: With spending accelerating, investors are drawn to
See More
Wall Street Market Dynamics Recap
- Market Dynamics: Wall Street experienced a decline on Thursday, particularly after the conclusion of the Morning Meeting, as the rotation from technology stocks to cyclicals continued, with industrials showing strong performance and driving portfolio results, indicating resilience in cyclical sectors.
- Stock Performance: Companies like Dupont, Dover, Honeywell, Linde, GE Vernova, and Eaton have shown extraordinary year-to-date performance, even as the S&P 500 has only seen slight gains, highlighting the significance of these cyclical stocks in the current market environment.
- Cisco Earnings Impact: Cisco's earnings report on Wednesday, despite a networking order growth exceeding 20%, saw shares drop over 10% on Thursday due to a dip in gross margins from rising memory prices, reflecting market concerns over its profitability.
- Apple Developments: Apple's shares fell more than 3% on Thursday, influenced by Cisco's warnings, and although iPhone sales remain strong, issues with the Siri upgrade testing and a delayed full launch could impact future market performance.
See More
Market Dynamics and Investment Opportunities Analysis
- Industrial Stock Rally: In 2026, industrial stocks like DuPont have shown remarkable performance, with DuPont up approximately 28% year-to-date, reflecting market confidence in industrial recovery; JPMorgan raised its price target from $50 to $57, indicating optimism about future growth.
- Cisco's Decline: Despite reporting strong quarterly results and raising its annual outlook, Cisco's stock fell about 7% in pre-market trading due to high memory prices squeezing gross margins, highlighting market concerns over its future profitability, prompting us to trim our position ahead of the report to mitigate risk.
- AI Market Funding: Anthropic is set to close a $20 billion funding round, valuing the company at $350 billion, which is crucial for the AI sector as it supports cloud providers' infrastructure investments, ensuring sustained compute demand that drives growth in related industries.
- Rising Power Demand: American Electric Power reported better-than-expected fourth-quarter results, having signed agreements for 28 GW of load capacity since October, bringing total energy commitments to 56 GW by 2030, demonstrating a strong response to high electricity demand, with over 10 GW of gas turbine capacity secured from major manufacturers like GE.
See More
GE Vernova Inc: Lincoln Electric System Enhances Terry Bundy Plant with GE Vernova Gas Turbines
Expansion of Electric System: The Lincoln Electric System is expanding its infrastructure to enhance service delivery.
New Plant Development: A new gas turbine plant is being developed in collaboration with Gevernova to improve energy production capabilities.
See More
Anthropic Leads AI Revolution, Software Industry Faces Challenges
- AI Disrupts Traditional Software: The rise of Anthropic poses significant challenges to traditional software companies like Workday and Salesforce, particularly in the application of AI technology, threatening their market share and customer loyalty.
- Surge in Capital Expenditures: Tech giants like Amazon and Google have significantly raised their capital expenditure outlooks, with Amazon projecting spending to reach $200 billion, far exceeding the $147 billion consensus, which could impact stock performance and investor confidence.
- Intensified Market Competition: The rapid advancement of AI technology raises questions about the value of enterprise software, leading investors to adopt a pessimistic view on the future of traditional software companies, especially in labor-intensive areas that may face workforce reductions due to AI adoption.
- Investor Confidence Shaken: Despite significant advancements by companies like Anthropic and OpenAI in the AI space, market confidence in traditional software companies is waning, resulting in poor stock performance over the past six months and raising concerns about future profitability.
See More
Market Divergence: Industrials Surge While Tech Stocks Struggle
- AI Fears Hit Financial Stocks: Concerns over a new AI-driven tax planning feature led to significant declines in Wells Fargo and Capital One, with shares dropping over 7.4% and nearly 7% respectively, highlighting investor sensitivity to potential threats in the wealth management sector, although Wells Fargo's rating upgrade on Friday provided some stabilization.
- Strong Performance in Industrials: Stocks like Eaton, Honeywell, and GE have continued their strong performance in 2026, with Eaton's shares rising over 4% last week and up 22% year-to-date, reflecting market optimism about economic recovery and driving what Jim Cramer describes as an
See More
AI Drives Exponential Growth in Capital Expenditure
- Surge in Capital Expenditure: Top hyperscalers are expected to increase capital expenditures by 70% this year, with Amazon, Alphabet, Meta, and Microsoft planning a combined spending of over $600 billion, indicating a strong commitment to AI infrastructure investment.
- Mixed Market Reactions: Despite the significant increase in capital spending, Amazon and Microsoft's shares have dropped 12% and 16% respectively, while Alphabet's stock is down less than 1% and Meta's has risen by 1%, reflecting investor concerns about the timing of returns on these investments.
- Infrastructure Investment Opportunities: With spending accelerating, investors are drawn to
See More
Wall Street Market Dynamics Recap
- Market Dynamics: Wall Street experienced a decline on Thursday, particularly after the conclusion of the Morning Meeting, as the rotation from technology stocks to cyclicals continued, with industrials showing strong performance and driving portfolio results, indicating resilience in cyclical sectors.
- Stock Performance: Companies like Dupont, Dover, Honeywell, Linde, GE Vernova, and Eaton have shown extraordinary year-to-date performance, even as the S&P 500 has only seen slight gains, highlighting the significance of these cyclical stocks in the current market environment.
- Cisco Earnings Impact: Cisco's earnings report on Wednesday, despite a networking order growth exceeding 20%, saw shares drop over 10% on Thursday due to a dip in gross margins from rising memory prices, reflecting market concerns over its profitability.
- Apple Developments: Apple's shares fell more than 3% on Thursday, influenced by Cisco's warnings, and although iPhone sales remain strong, issues with the Siri upgrade testing and a delayed full launch could impact future market performance.
See More
Market Dynamics and Investment Opportunities Analysis
- Industrial Stock Rally: In 2026, industrial stocks like DuPont have shown remarkable performance, with DuPont up approximately 28% year-to-date, reflecting market confidence in industrial recovery; JPMorgan raised its price target from $50 to $57, indicating optimism about future growth.
- Cisco's Decline: Despite reporting strong quarterly results and raising its annual outlook, Cisco's stock fell about 7% in pre-market trading due to high memory prices squeezing gross margins, highlighting market concerns over its future profitability, prompting us to trim our position ahead of the report to mitigate risk.
- AI Market Funding: Anthropic is set to close a $20 billion funding round, valuing the company at $350 billion, which is crucial for the AI sector as it supports cloud providers' infrastructure investments, ensuring sustained compute demand that drives growth in related industries.
- Rising Power Demand: American Electric Power reported better-than-expected fourth-quarter results, having signed agreements for 28 GW of load capacity since October, bringing total energy commitments to 56 GW by 2030, demonstrating a strong response to high electricity demand, with over 10 GW of gas turbine capacity secured from major manufacturers like GE.
See More
