It's been a bad month for GEV:
Down 12.70% since May 1 and even more since the April 23 all-time highs ($1,181.95 intraday, $1,149.53 closing).
However! The fact that I'm posting this likely means the stock is at or very near an intermediate-term bottom, $950.54 down $17.78 (-1.84%) at today's close. ($939.00 intraday low)
That's the way this blogging stuff works and I have no idea why.
First up, from EnergyWatch, May 28:
GE Vernova sees more states putting up barriers to energy projects
”We are seeing more and more states that are clearly putting up barriers,” says the company’s chief executive at a conference.
GE Vernova fell 1.9% on Wednesday at midday in the US after CEO Scott Strazik expressed caution regarding the outlook for data center and wind energy projects at a conference organized by investment firm Bernstein.
Regarding the outlook for data centers, the chief executive stated:
“We are seeing more and more states that are clearly putting up barriers. And we have customers who are struggling to get their projects completed,” he said, according to Bloomberg News.
However, the CEO does not foresee canceled orders from customers.
In the wind business, “the pipeline is very significant, but it is very difficult to convert the wind power pipeline into orders, while there is also significant economic uncertainty surrounding issues like tariffs,” says Strazik.
He still expects GE Vernova to deliver 1,500 wind turbines in 2026, “but I don’t think we can expect to see these orders until there is clarity on tariffs in the US.”
In the German market, Siemens Energy fell 4.1% on Wednesday, and in Denmark, Vestas plunged 7.4%....
....MORE
And at Investor's Business Daily, May
AI Leader GE Vernova: Data-Center Customers 'Are Struggling To Get Projects Across The Line'
AI data centers are indeed receiving community pushback, but GE Vernova (GEV) sees little risk to its AI-led energy equipment and services backlog, management said on Wednesday. GE Vernova stock fell modestly but is near a buy point.
Artificial-intelligence data centers make massive demands for computing power and suck up vast amounts of energy. GE Vernova's electrification segment especially targets the energy infrastructure needs of AI data centers. It is a leader in that market.
Big Tech firms like Amazon (AMZN) and Microsoft (MSFT) are behind the AI data-center boom.
AI Data Centers: 'Struggling To Get Projects Across The Line'
At a Bernstein industry conference on Wednesday, Vernova's top executive acknowledged that community opposition to data centers is real, while soothing fears about a risk to growth.Some customers are "struggling to get projects across the line" as "more and more states" push back, GE Vernova CEO Scott Strazik said. However, he described lease cancellations and project delays as "quite normal" in the power industry.
Strazik added this type of "typical" pushback is assumed in realization rates. He explained: "So when (customers) sit down with us and project the next number of years of growth, they'll often show us many, many more projects than they are securing equipment for. They know there is a number of projects that, for one reason or other, either they will choose not to develop, or externalities beyond their own control will make it difficult to make happen."
As such, Vernova sees low risk to the backlog. In fact, Strazik likened the current power cycle to the "1945 after World War II" era.
In both periods, economic growth and the issue of national security or energy independence boosted overall power demand.
For Vernova, realization rates mean the pace at which the order backlog — a record $163 billion now — turns into realized revenue....
....MUCH MORE
And finally, the judge who told GEV they had to continue working on an offshore wind project, via a preliminary injunction a month ago today reaffirmed the order.
From The New Bedford Light, June 1:
Judge rules again for Vineyard Wind in its dispute with GE Vernova
The turbine supplier remains barred from exiting its contract with the wind project.
A judge in Boston has again denied GE Vernova’s request to leave the Vineyard Wind project. He affirmed his April ruling that temporarily bars the turbine supplier from exiting its contract to service and maintain the turbines.
GE Vernova submitted a request for Judge Peter B. Krupp to reconsider his preliminary injunction, arguing that Vineyard Wind achieving commercial operation and activating its power purchase agreements (thereby locking in a decadeslong revenue stream) belies the project’s earlier argument that it was in great financial and operational peril....
....MUCH MORE
It is in times like this that the value of sales/earnings/cash flow becomes important for one's sleep hygiene.
