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General Electric's (GE) Unit to Upgrade Shuaiba Plant in Kuwait
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General Electric Company’s (GE - Free Report) unit GE Vernova’s Gas Power business has secured a multi-year services deal from Malaysia and Kuwait-based engineering company TNB REMACO – Al Dhow Joint Venture to upgrade gas turbines installed at Kuwait’s Ministry of Electricity & Water & Renewable Energy’s Shuaiba North Power Station.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Gas Power business includes General Electric’s gas lifecycle business (including Power Services and Gas Power Systems businesses).
Al Ahmadi, Kuwait-based 876 Megawatt Shuaiba North Power station has three electricity generating blocks. Each electricity block contains a 9F.03 gas turbine and generator from General Electric. Per the five-year agreement, the company will elevate the combustion technology installed on the gas turbines to the Dry Low Nox DLN2.6+ combustion system to improve combustor operability, lessen emissions levels, expand turndown capability and increase hardware inspection intervals.
GE will also supply parts and its Asset Performance Management software in the cloud, and provide repairs and field services. This is likely to enhance asset reliability, availability and productivity to help contribute to the long-term energy security requirements of the country.
Price Performance
In the past year, the GE stock has gained 50.2% against the industry’s 7.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies have been discussed below.
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 3.3%. The stock has risen 62.1% in the past year.
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have rallied 39.7% in the past year.
A. O. Smith Corporation (AOS - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 35% in the past year.
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General Electric's (GE) Unit to Upgrade Shuaiba Plant in Kuwait
General Electric Company’s (GE - Free Report) unit GE Vernova’s Gas Power business has secured a multi-year services deal from Malaysia and Kuwait-based engineering company TNB REMACO – Al Dhow Joint Venture to upgrade gas turbines installed at Kuwait’s Ministry of Electricity & Water & Renewable Energy’s Shuaiba North Power Station.
GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Gas Power business includes General Electric’s gas lifecycle business (including Power Services and Gas Power Systems businesses).
Al Ahmadi, Kuwait-based 876 Megawatt Shuaiba North Power station has three electricity generating blocks. Each electricity block contains a 9F.03 gas turbine and generator from General Electric. Per the five-year agreement, the company will elevate the combustion technology installed on the gas turbines to the Dry Low Nox DLN2.6+ combustion system to improve combustor operability, lessen emissions levels, expand turndown capability and increase hardware inspection intervals.
GE will also supply parts and its Asset Performance Management software in the cloud, and provide repairs and field services. This is likely to enhance asset reliability, availability and productivity to help contribute to the long-term energy security requirements of the country.
Price Performance
In the past year, the GE stock has gained 50.2% against the industry’s 7.2% decline.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
General Electric currently carries a Zacks Rank #3 (Hold). Some better-ranked companies have been discussed below.
Federal Signal Corporation (FSS - Free Report) presently sports a Zacks Rank #1 (Strong Buy). 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 3.3%. The stock has risen 62.1% in the past year.
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 8%.
The consensus estimate for ITT’s 2023 earnings has increased 2% in the past 60 days. Shares of ITT have rallied 39.7% in the past year.
A. O. Smith Corporation (AOS - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 14%.
In the past 60 days, the consensus estimate for A. O. Smith’s 2023 earnings has improved 5%. The stock has risen 35% in the past year.