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General Electric (GE) Brings Iberdrola's Power Plant Online
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General Electric Company’s (GE - Free Report) unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has announced that Iberdrola Mexico’s Topolobampo III power plant has begun its commercial operation.
Located in Mexico’s Sinaloa state, near the Topolobampo natural gas pipeline, the Topolobampo III facility is equipped with two GE’s 7HA.01 gas turbines, three H53 generators, D650 steam turbine and state-of-the-art plant control systems with GE's integrated Mark VIe Distributed Control System. CERREY, GE’s local heat recovery steam generator (HRSG) technology licensee, provided two HRSGs that are in use in the facility. The power plant can produce electricity of approximately 766 megawatts, which is capable of powering more than 1.6 million Mexican homes.
The GE equipment package will utilize real-time data to provide better outcomes, thus supporting steady and efficient operations. It will help the power plant enhance reliability, asset visibility, availability and lower operating and maintenance costs as well.
GEIQ, GE’s advanced engineering center located in Queretaro, Mexico, has provided the required engineering assistance to the power plant. The region’s local engineers provided support for the commissioning of the plant and will also be responsible for offering aftermarket operations.
Zacks Rank
General Electric currently sports a Zacks Rank #1 (Strong Buy). The company is benefiting from the strong performance of the Aerospace segment due to robust demand and solid execution in commercial engines and services. Also, after months of softness, a rebound in demand in the Power segment augurs well for General Electric. Strength in GE Gas Power’s heavy-duty gas turbines is aiding the Power segment.
Price Performance
In the past year, the GE stock surged 76.6% compared with the industry’s 1.3% growth.
Image Source: Zacks Investment Research
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FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 2.5%. The stock has risen 55.4% in the past year.
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter average earnings surprise of 28.6%.
The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 13% in the past 60 days. Shares of Griffon have surged 57.3% in the past year.
Carlisle Companies Incorporated (CSL - Free Report) currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 2.9%.
In the past 60 days, the Zacks Consensus Estimate for Carlisle’s 2023 earnings has remained steady. The stock has risen 26.6% in the past year.
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General Electric (GE) Brings Iberdrola's Power Plant Online
General Electric Company’s (GE - Free Report) unit, GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power), has announced that Iberdrola Mexico’s Topolobampo III power plant has begun its commercial operation.
Located in Mexico’s Sinaloa state, near the Topolobampo natural gas pipeline, the Topolobampo III facility is equipped with two GE’s 7HA.01 gas turbines, three H53 generators, D650 steam turbine and state-of-the-art plant control systems with GE's integrated Mark VIe Distributed Control System. CERREY, GE’s local heat recovery steam generator (HRSG) technology licensee, provided two HRSGs that are in use in the facility. The power plant can produce electricity of approximately 766 megawatts, which is capable of powering more than 1.6 million Mexican homes.
The GE equipment package will utilize real-time data to provide better outcomes, thus supporting steady and efficient operations. It will help the power plant enhance reliability, asset visibility, availability and lower operating and maintenance costs as well.
GEIQ, GE’s advanced engineering center located in Queretaro, Mexico, has provided the required engineering assistance to the power plant. The region’s local engineers provided support for the commissioning of the plant and will also be responsible for offering aftermarket operations.
Zacks Rank
General Electric currently sports a Zacks Rank #1 (Strong Buy). The company is benefiting from the strong performance of the Aerospace segment due to robust demand and solid execution in commercial engines and services. Also, after months of softness, a rebound in demand in the Power segment augurs well for General Electric. Strength in GE Gas Power’s heavy-duty gas turbines is aiding the Power segment.
Price Performance
In the past year, the GE stock surged 76.6% compared with the industry’s 1.3% growth.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked companies from the same space are discussed below:
Federal Signal Corporation (FSS - Free Report) presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 8.1%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2023 earnings has increased 2.5%. The stock has risen 55.4% in the past year.
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter average earnings surprise of 28.6%.
The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 13% in the past 60 days. Shares of Griffon have surged 57.3% in the past year.
Carlisle Companies Incorporated (CSL - Free Report) currently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 2.9%.
In the past 60 days, the Zacks Consensus Estimate for Carlisle’s 2023 earnings has remained steady. The stock has risen 26.6% in the past year.