GE Vernova Inc. ( GEV ) shares are trading lower in premarket after the company reported mixed third-quarter results.

The company reported revenue growth of 8% year-over-year to $8.913 billion and +10% YoY organically, beating the consensus of $8.783 billion.

“GE Vernova had a solid third quarter, delivering double-digit orders and continued revenue growth with services strength across all segments, significant margin expansion in Power and Electrification, and substantial cash generation,” commented GE Vernova ( GEV ) CEO Scott Strazik.

Orders totaling $9.4 billion increased 17% organically, driven by services growth of +28 % organically, with strength across all segments, and equipment growth in Power and Electrification.

Loss per share for the quarter stood at $0.35, compared to a $0.62 loss a year ago, missing the EPS consensus of $0.32. Net loss narrowed to $99 million from $185 million loss last year.

Adjusted EBITDA margin expanded by 20 bps to 2.7% and contracted 70 bps to 2.6% on an organic basis, with Adjusted EBITDA of $243 million (+18.5% YoY).

Power revenue was $4.206 billion (+8% YoY), and Orders reached $5.202 billion (+28% YoY), led by Gas Power equipment and services, with 9 HA and 15 aeroderivative units, and services growth of 29% organically.

Wind revenue was $2.89 billion (flat YoY), and Orders reached $1.747 billion (-19% YoY), reflecting lower Onshore Wind equipment orders outside of North America.

Electrification revenue was $1.928 billion (+22% YoY), driven by Grid Solutions and Power Conversion. Orders gained 17% YoY to $2.51 billion.

Cash from operating activities for the quarter totaled $1.127 billion, compared to $233 million used a year ago. Free cash flow stood at $968 million.

At the end of the quarter, GEV had a $7.4 billion cash balance, up from $5.8 billion in the second quarter of 2024.

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2024 Guidance, reaffirmed: GE Vernova ( GEV ) expects revenue to trend towards the higher end of $34 billion – $35 billion versus $34.93 billion.

The company now expects free cash flow to trend towards the higher end of the $1.3 billion – $1.7 billion range.

Price Action: GEV shares traded lower by 4.49% at $264.00 premarket at the last check Wednesday.