“GE Vernova is building momentum expecting substantial profit and free cash flow growth in 2024.”

In context

“t around the corner. First quarter will be the last time our reporting combined GE results, including GE Aerospace and GE Vernova. For this first quarter, we expect high single digit revenue growth driven by GE Aerospace. Adjusted EPS of $0.60 to $0.65, more than doubling year-over-year, driven by profit improvement and the absence of preferred stock dividend and free cash flow growth in line with net income growth. Our 2024 annual guidance reflects each business operating independently for the full year, incorporating standalone and other impacts that each will incur separately. I'll now hand it over to Scott and Larry to share the overall GE Vernova and GE Aerospace guides. And we will provide further details for both businesses in March. Scott, back to you. Scott Strazik: Thanks Rahul. GE Vernova is building momentum expecting substantial profit and free cash flow growth in 2024. We see solid organic growth with revenue between $34 billion to $35 billion, up low to mid-single digits from 2023 and adjusted EBITDA margin at the higher end of the mid-single digits range, up from low single digit EBITDA margin in ‘23. Supporting this outlook is continued price, productivity and benefits from restructuring efforts. A few highlights. We expect Gas Power to remain strong with continued services growth and low double digit margins. Onshore will continue to improve significantly achieving high single digit margins on roughly flat revenue from better mix, price and cost out. Offshore will continue to execute our current backlog with slight year-over-year improvement. Finally, Grid will expand to mid-single digit margins, primarily from higher volume and price. Our guidance”