“Onshore will continue to improve significantly achieving high single digit margins on roughly flat revenue from better mix, price and cost out.”

In context

“acts 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 assumes roughly $200 million of standalone and $100 million of other ongoing carveout costs. When converting from this year's expected operating profit margin for Power and renewables combined to adjusted EBITDA margin for GE Vernova including these costs plus D&A, the difference is roughly $0.5 billion or 1.5 points. On free cash flow. We expect $700 million to $1.1 billion from higher EBITDA and better working capital on a standalone basis, which includes absorbing our portion of the GE Pension. Given the multi decade secular talents and stronger financial trajectory ahead, we are excited”