Zephyrs
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Third-quarter billion-dollar loss.
US-based GE Vernova’ wind turbrine business came out of the third quarter with a new billion-dollar loss.
Fewer orders outside North America have also led to a decline in order intake, according to financial statements released Wednesday afternoon by the American Vestas rival.
During the quarter, the group’s wind segment reported an operating loss, EBITDA, of USD 317 million against a operating deficit of USD 225 million in the same quarter last year.
Because revenue was almost unchanged at approximately USD 2.9 billion, the operating margin fell to minus 11.0% from minus 7.8%.
The higher loss was primarily due to additional contract losses of approximately USD 0.7 billion in the offshore wind segment, partially offset by a settlement with an impact of approximately USD 0.5 billion, which included the recovery of previously incurred costs on a canceled offshore project.
The wind turbine business’ order intake in the third quarter was USD 1.747 billion, compared to USD 2.162 billion in the same quarter last year.
This represents an organic decline of 19% and is due to lower orders for onshore wind equipment outside North America.
GE Vernova is more than just wind turbines, and while the wind business is in the red, the group is pleased with improved results in its other businesses, Power and Electrification.
In Power, the largest business division which includes company’s gas turbine operations, segment profit in the third quarter increased to USD 499 million from USD 280 million in the same quarter last year.
Although GE Vernova maintains its outlook for 2024, investors are not immediately enthusiastic about the announcements in Wednesday’s quarterly report. In the US pre-market, the share fell 5.6% on Wednesday afternoon.
However, unlike Vestas, the share has done very well this year and ended Monday at a record price of USD 276.43.
energywatch.com/EnergyNews/Ren…
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Join Robinhood with my link and we'll both get a free stock join.robinhood.com/sierraz
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Consumer Reports found plasticizers linked to a range of health harms in 99% of the food we tested! It's time for immediate action to protect public health. Join @CRAdvocacy in demanding that the @US_FDA ban plasticizers in our food. action.consumerreports.org/nl-20240104-fd…
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Join Robinhood with my link and we'll both get a free stock join.robinhood.com/pamelac3
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Watch this.
Richard Woodruff 🇺🇦@frontlinekit
❗I had never cheated death so many times. The rashists blew the nova kharkova dam, then actively and knowingly shelled civilians & rescuers on VIDEO for the past 11 days. Please make sure the world sees this video, tag every news agency/journalist you know. RT/Boost❗#Kherson
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Saying this on Fox News is pretty pretty pretty good
Acyn@Acyn
Newsom: 71% of the GDP in America are blue counties. Progressive policies. Seven of the top ten dependent states are your states. We’re subsidizing your states because of your policies
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High-speed internet is no longer a luxury, it’s a necessity. That's why my Administration is investing in expanding access to affordable high-speed internet to close the digital divide.
GetInternet.gov.
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@MaxHumana @USArmy My fear is everyone who could do it is too afraid to pull the trigger and fail at the court martial.
No one wants to set the precedent.
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Friendly reminder that retired Army general Michael Flynn is a traitor to America and should be recalled, court martialed, and sent to Leavenworth.
I know it could be career ending if it goes wrong, but someone in the @USArmy needs to take this on.
He publicly replaced the oath he took as a soldier and replaced it with the Q oath.
Flynn is an enemy of the state. Period.



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This is the story of all the CIA assets dying in a parallel to when Trump was showing classified documents to people with no clearance at Mar-a-Lago. I thought you'd want to read it. RT for max exposure.
Check out this gift article from me via @nytimes. nytimes.com/2021/10/05/us/…
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"They are the most highly-guarded US secrets...they’re code word programs--about US nuclear capacities, military capacities, vulnerabilities of the US...If people take them out of highly-secured environments, then they are considered compromised."
conversationswithbillkristol.org/video/ryan-goo…
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@OccupyDemocrats This made my day! I have for a long time wondered why Cubans who fled from Castro's regime would be supportive of someone like Trump (and DeSantis).
#TrumpIsACriminal
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@OccupyDemocrats @BarryLarkin6 trump will serve best as compost, but his mere essence is so poisonous and toxic it will take years for the soil to be usable.
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