Offshore wind continues to drag down GE Vernova's financial results, although the company says it still expects 2024 revenues to be as high as $35 billion

GE Vernova's troubled offshore wind business dragged down its Q3 performance more than analysts expected, although the company reported year-over-year revenue growth and a smaller net loss than a year ago.

GE Vernova (NYSE:GEV) -1.9% pre-market Wednesday after reporting weaker than expected Q3 GAAP earnings, hurt by underperformance in its wind business. The company's reported Q3 loss fell to $99M, or $0.

The company said other blades had a “manufacturing deviation” similar to a blade that shattered in July off the coast of Nantucket.

NEW BEDFORD, Mass. (WPRI) — GE Vernova and Vineyard Wind provided an update on cleanup efforts following July’s “blade failure incident,” which resulted in truckloads of debris washing ashore across Nantucket and other beaches in Southeastern ...

The company's reported Q3 loss fell to $99M, or $0.35/share, from a loss of $185M, or $0.62/share in the year-earlier quarter, while revenues rose 8% Y/Y to $8.9B, and adjusted EBITDA totaled $243M, up from $205M a year ago, but below the $249M analyst consensus estimate.