GE Power’s Post

Like many utilities, Tacoma Power faced challenges migrating from GE Smallworld to the new #UtilityNetwork model. Learn how the combined efforts of Geonexus and Locana came together to make the transition more seamless through the power of integration: https://zurl.co/beXV

Last month, General Electric Co. completed its multi-year transformation of GE into three public companies. The new companies will be smaller than GE, but still large in their respective industries. The split of GE is the culmination of years of paring by the massive conglomerate which signaled a shift away from a corporate structure that dominated U.S. business for decades. Huge conglomerates have chosen over the last five years to strategically sell off their businesses into smaller, more nimble, and focused companies. When then-CEO, Larry Culp, the first outsider to run GE, took the helm in 2018, the company faced weak profits and a mountain of debt after bad investments and the 2008 financial crisis that nearly bankrupted its most profitable business, GE Capital. Culp’s focus on paying off debt by selling assets and improving cash flows by streamlining operations and cutting overhead ushered in a recovery. While Culp wanted to continue to repair company finances, GE ultimately concluded that investors wanted a simpler structure. Despite its reputation for management excellence, GE’s structure fostered an internal bureaucracy that some investors and former executives said made the company inefficient and difficult to manage. Strong profits from one unit would get diverted to weaker parts of the company. Cash produced by divisions was required to pay the company’s massive dividend, which could crimp reinvestment among the business units. These long-term #infrastructure challenges are rarely solved without long-term outside investor funding. While the overall entity may have underperformed, there was a ton of value in each of the focused business units. With the successful launch of three independent, public companies now complete, it is the end of the GE we knew, but that’s not necessarily bad. It’s also not the end of multi-industry companies if the businesses have reason to be together, a cohesive culture, and leadership that understands all that and how to make it effective. Disclosure: This article is for informational purposes only and should not be construed as legal, regulatory, tax, accounting, or investment advice. It expresses the views of the author as of the date indicated and such views are subject to change without notice. Quaestor Consulting Group ("QCG") has no duty or obligation to update the information contained herein. Certain information contained herein is based on or derived from information provided by independent third-party sources. QCG believes that the sources from which such information has been obtained are reliable; however, it has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. QCG makes no representation, and it should not be assumed, that past investment performance is an indication of future results. Moreover, wherever there is the potential for profit there is also the possibility of loss.

🚀🔥 Excited to share an insightful video on Gas Turbines! 📽️💡 👉 Dive into the world of energy and engineering excellence with this captivating video uncovering the mechanisms and marvels behind Gas Turbines. Watch as experts break down the intricacies of these powerhouses and their pivotal role in modern industrial operations. 🔍 Gain a deeper understanding of the core principles driving these turbines, their applications across various industries, and the innovation propelling their efficiency. From aerospace to power generation, witness the incredible technology shaping our energy landscape. 🌐 Feel free to share your thoughts and insights in the comments. Let's spark engaging discussions on the future of energy and cutting-edge engineering! #GasTurbines #EngineeringExcellence #EnergyInnovation #IndustryInsights #PowerGeneration #Aerospace #EngineeringTechnology #KnowledgeSharing 🌟✨

How did ATCO Electric achieve a more complete picture of what's happening for the users in the office as well as technicians in the field? Read our case study to find out. #utilities #gis #service

How did ATCO Electric achieve a more complete picture of what's happening for the users in the office as well as technicians in the field? Read our case study to find out. #utilities #gis #service

Proud to be part of GE and GE Vernova in this exciting and instrumental years of change for our green energy transition. We shall continue to work hard to contribute to the change happening. Looking back at the year of 2023, I am also very proud of our North Europe team for contributing to very high and good numbers for GE Vernova with double digit growth numbers. This will allow us to keep investing and growing so we can do more and better. In 2024 GE Vernova expects to deliver: Revenue of $34 billion to $35 billion; adjusted EBITDA* margin of mid single digits, toward the higher end of the range; and free cash flow* of $0.7 billion to $1.1 billion #energytransition #gridofthefuture #renewableenergy #bettertogether https://lnkd.in/dYQkQfcv

How did ATCO Electric achieve a more complete picture of what's happening for the users in the office as well as technicians in the field? Read our case study to find out. #utilities #gis #service

How did ATCO Electric achieve a more complete picture of what's happening for the users in the office as well as technicians in the field? Read our case study to find out. #utilities #gis #service

Are you attending #OffshoreTechnologyConference2024? Visit GE Vernova’s #PowerConversion business at booth #1739 M, 6 – 9 May, NRG Park, #Houston, #Texas, UnitedStates. Whether the largest, higher voltage ships or smaller support fleets, our scalable systems are supporting vessels working on all phases of #wind and conventional #energy projects, from construction to production and support, and on cable installation, survey and research ships. Interested to learn how #GEVernova’s electric ship #technology brings together electric propulsion, #EnergyManagement, DP and #digital technology for cleaner, more optimized, competitive vessels? Meet with the Power Conversion team or contact [email protected] #Electrification #CleanMaritime #FutureOfEnergy #Decarbonization #EnergyTransition