Last week was a milestone moment for GE Vernova and GE Aerospace as we hosted our Investor Days. Both businesses will launch as independent and investment grade industry leaders on April 2nd. It was a pleasure to see so many familiar and new faces at this exciting juncture where we shared our growth strategies, and near- and long-term financial outlooks that will enable us to continue delivering value for our shareholders as standalone companies. Below are a few highlights.
GE Vernova Investor Day – March 6, 2024
The GE Vernova leadership team shared its value creation strategy as a company that is purpose-built to electrify and decarbonize, serving the vital energy transition market with multi-decade growth. The leaders discussed how GE Vernova is executing with sustainability, innovation, and lean at its core, while delivering disciplined growth to drive margin expansion, higher free cash flow*, and effective capital allocation.
CEO Scott Strazik provided a detailed overview of GE Vernova and its strategy:
GE Vernova CEO Scott Strazik
CFO Ken Parks shared how the company will deliver on its financial guidance and outlook:
GE Vernova CFO Ken Parks
To review GE Vernova’s Investor Day material and videos, please click here.
GE Aerospace – March 7, 2024
During GE Aerospace’s Investor Day, CEO Larry Culp and the leadership team discussed how the company will serve its purpose to invent the future of flight, lift people up and bring them home safely. Among the key highlights from the day:
CEO Larry Culp unveiled FLIGHT DECK and how it will enable GE Aerospace to deliver on its strategic priorities:
GE Aerospace CEO Larry Culp discusses FLIGHT DECK
CFO Rahul Ghai shared our planned capital allocation framework, including shareholder returns of 70-75% of available funds, an initial dividend of 30% of net income (subject to Board approval) and a $15 billion buyback authorization:
GE Aerospace CFO Rahul Ghai shares our capital allocation framework
Mohamed Ali, Vice President of Engineering discussed the LEAP durability roadmap and our progress on improvements:
Mohamed Ali, Vice President of Engineering at GE Aerospace on LEAP durability
To review GE Aerospace’s Investor Day materials, please click here or view additional videos on our YouTube channel here.
The GE Vernova and GE Aerospace teams are moving with momentum toward our launches on April 2nd. This week, GE Vernova was on the road engaging with investors and GE Chairman and CEO and GE Aerospace CEO, Larry Culp, and CFO Rahul Ghai appeared at J.P. Morgan’s Industrials Conference. In addition, we continued to reduce our stake in GE HealthCare through the successful monetization of 14 million shares for approximately $1.2 billion, bringing our holdings in the company to just over 7%.
The next three weeks will be an exciting time as GE prepares to complete its transformation into three independent, investment-grade and industry leading companies.
Thank you for your continued interest in GE.
Steve, Michael, and team
This document contains “forward-looking statements.” For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see here.
*Non-GAAP Financial Measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in our registration statement on Form 10 and the 2024 Investor Day Presentation.