GE Vernova falls as company misses core-profit estimates
BUZZ-GE Vernova falls as company misses core-profit estimates Updates
** Shares of power equipment maker GE Vernova GEV.N reverse course, down 8.3% at $989.8 premarket
** GEV narrowly misses estimates for second-quarter core profit
** Reports adjusted core earnings of $1.25 billion for the quarter, missing analysts' estimates of $1.28 billion, according to LSEG data
** Revenue from the wind segment fell 10% to $2.03 billion because of lower onshore wind equipment deliveries, while its core loss widened to about $275 million.
** Expects global tariffs to increase its costs by about $100 million to $200 million in 2026
** Raises 2026 revenue forecast to range of $45.5 billion to $46.5 billion, compared with its prior view of $44.5 billion to $45.5 billion
** As of last close, GEV up 65% YTD
(Reporting by Dharna Bafna in Bengaluru)
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