Siemens Energy plummets after GE Vernova earnings miss
GEV•Siemens Energy falls after GE Vernova misses earnings
- German energy provider Siemens Energy ENR1n.DE shares fall 7%, tracking pre-market losses of U.S. peer GE Vernova GEV.N after the Massachusetts-based company narrowly missed core earnings expectations.
- A trader says the midpoint of GE Vernova's FY adjusted EBITDA guidance of 12-14% fell short of estimates at 13.5%.
- The trader also points to a comment from GE Vernova on the impact of global tariffs, which it estimates will cost the U.S. company around $100 million to $200 million in 2026.
- Today's losses wiped off 9.6 billion euros ($10.95 billion) from Siemens Energy's market cap.
- Co sits bottom of Germany's blue chip index .GDAXI.
($1 = 0.8766 euros)
