GE Vernova announced on Thursday that it had reduced its losses in the first quarter, but its order intake stagnated or even declined on an organic basis, which penalized its share price on Wall Street.

The energy group announced this morning, in its first quarterly publication since its spin-off from GE Aerospace, that its net loss had been limited to $100 million in the first quarter, compared with -$300 million a year earlier.

Its operating loss also narrowed, to 200 million euros, after -$500 million in the first quarter of 2023.

While quarterly sales rose by 6% to $7.3 billion, with 5% growth in organic terms, orders remained stable at $9.7 billion.

In organic terms, they even fell by 1%.

In its press release, GE Vernova reaffirmed its sales forecast of between $34 and $35 billion, with expected free cash flow (FCF) of between $700 million and $1.1 billion.

Listed on the New York Stock Exchange, GE Vernova's share price nevertheless dropped by more than 4% following this publication. Since it was first listed, the share price has hardly changed.

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