GE Vernova Completes Spin-off, Begins Trading on NYSE

GE Vernova (NYSE: GEV) announced yesterday that its spin-off from GE (NYSE: GE) is complete and it will begin trading as an independent company on the New York Stock Exchange (NYSE) under the ticker symbol “GEV,” effective at the market opening today.

In a first for the NYSE, GE Vernova and GE Aerospace, which also launches as an independent company today, rang the opening bell together at 9:30 AM ET.

“Today, GE Vernova becomes an independent company singularly focused on accelerating the energy transition to create a more sustainable future. Our Power, Wind, and Electrification segments provide essential products and services to the electric power industry as we work to meet the growing power demands of economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is purpose-built to electrify and decarbonize the world, and I’m incredibly proud of what our team has accomplished with this milestone and excited to continue this journey alongside our customers and shareholders,” said Scott Strazik, CEO of GE Vernova.

GE Vernova, he said, has more than 80,000 employees across more than 100 countries. “Many of the world’s leading utilities, developers, governments, and large industrial electricity users rely on its installed base to generate, transfer, orchestrate, convert, and store electricity reliably and efficiently. With an installed base of over 7,000 gas turbines, the world’s largest, approximately 55,000 wind turbines, and leading-edge electrification technology, GE Vernova helps generate approximately 30% of the world’s electricity.

At the company’s Investor Day in March, GE Vernova reaffirmed its 2024 financial guidance, and presented its 2025 financial guidance. Additionally, GE Vernova provided its outlook by 2028 including achieving mid-single digit organic revenue growth*, 10% adjusted EBITDA margin*, and 90-110% free cash flow* conversion.