GE Vernova Maintains 2023 Outlook Despite $400M Tariff Impact

GE Vernova has reaffirmed its full-year revenue forecast of $36–$37 billion despite anticipating $300–$400 million in tariff-related costs, maintaining that these pressures will not significantly impact its financial outlook. The company posted a strong first-quarter profit of $264 million, marking a turnaround from a loss in the prior year, with revenues rising 11% due to robust performance in the electrification and gas power segments. While the offshore wind division remained under pressure from supply chain issues and cost inflation, overall orders grew by 8% organically, and the company’s backlog increased. Analysts remain bullish, with a consensus 'Outperform' rating and average price targets ranging from $396 to $485, citing the company’s resilience and strategic pricing actions. Tariff exposure is generally viewed as manageable, and GE Vernova is expected to benefit from U.S. power sector deregulation. The company continues to invest in next-generation gas turbines to meet rising demand driven by digital infrastructure growth.