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General Electric's (GE) Turbines Power Invenergy Plant in Japan
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General Electric Company’s (GE - Free Report) unit GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power) and Invenergy recently announced the commissioning of Rusutsu Wind Energy Center. Based in Rusutsu town, Hokkaido, Japan, the wind power plant uses GE 4.2-117 onshore turbines.
Based in Chicago, IL, Invenergy is a well-known developer and provider of sustainable energy solutions. The company is engaged in developing, building, and operating power generation and energy storage projects in the United States, Europe and Asia.
The Rusutsu Wind Energy Center is the first onshore wind project for Invenergy in Japan and Asia with a total capacity of 63 megawatts. The energy center is capable of reducing carbon emissions by approximately 64,000 tons in a year. Equipped with 15 units of GE 4.2-117 onshore turbines, the power plant can operate in extreme situations like harsh wind conditions, seismic loading and complex sites of the Japanese market.
General Electric, along with Invenergy and Kajima Corporation (project construction lead), have been coordinating to begin commercial operation of the Rusutsu power plant since April 2023. The energy center will be capable of supplying power to around 35,000 houses in a year.
Zacks Rank and Price Performance
General Electric currently carries a Zacks Rank #3 (Hold).
The company is benefiting from the strong performance of the Aerospace segment due to robust demand for commercial engines and services. The segment benefited from improved commercial services revenues, higher orders for LEAP engines and aftermarket services, along with strong operational execution.
In the past year, the stock has risen 85.7% compared with the industry’s 13.5% increase.
Image Source: Zacks Investment Research
However, General Electric has been dealing with the adverse impacts of the high cost of sales and operating expenses. Also, adverse currency movements are a worry for the company.
It has a trailing four-quarter average earnings surprise of 42%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 3.9% in the past 60 days. Shares of Griffon have jumped 131.8% in the past year.
Carlisle Companies Incorporated (CSL - Free Report) carries a Zacks Rank of 1. CSL delivered a trailing four-quarter average earnings surprise of 7.6%.
In the past 60 days, the Zacks Consensus Estimate for CSL’s 2024 earnings has increased 8.2%. The stock has risen 63.2% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 10.4%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 40% in the past year.
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General Electric's (GE) Turbines Power Invenergy Plant in Japan
General Electric Company’s (GE - Free Report) unit GE Vernova (combined operations of GE Digital, Renewable Energy and GE Power) and Invenergy recently announced the commissioning of Rusutsu Wind Energy Center. Based in Rusutsu town, Hokkaido, Japan, the wind power plant uses GE 4.2-117 onshore turbines.
Based in Chicago, IL, Invenergy is a well-known developer and provider of sustainable energy solutions. The company is engaged in developing, building, and operating power generation and energy storage projects in the United States, Europe and Asia.
The Rusutsu Wind Energy Center is the first onshore wind project for Invenergy in Japan and Asia with a total capacity of 63 megawatts. The energy center is capable of reducing carbon emissions by approximately 64,000 tons in a year. Equipped with 15 units of GE 4.2-117 onshore turbines, the power plant can operate in extreme situations like harsh wind conditions, seismic loading and complex sites of the Japanese market.
General Electric, along with Invenergy and Kajima Corporation (project construction lead), have been coordinating to begin commercial operation of the Rusutsu power plant since April 2023. The energy center will be capable of supplying power to around 35,000 houses in a year.
Zacks Rank and Price Performance
General Electric currently carries a Zacks Rank #3 (Hold).
The company is benefiting from the strong performance of the Aerospace segment due to robust demand for commercial engines and services. The segment benefited from improved commercial services revenues, higher orders for LEAP engines and aftermarket services, along with strong operational execution.
In the past year, the stock has risen 85.7% compared with the industry’s 13.5% increase.
Image Source: Zacks Investment Research
However, General Electric has been dealing with the adverse impacts of the high cost of sales and operating expenses. Also, adverse currency movements are a worry for the company.
Stocks to Consider
Some better-ranked companies are discussed below:
Griffon Corporation (GFF - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
It has a trailing four-quarter average earnings surprise of 42%. The Zacks Consensus Estimate for GFF’s fiscal 2024 earnings has increased 3.9% in the past 60 days. Shares of Griffon have jumped 131.8% in the past year.
Carlisle Companies Incorporated (CSL - Free Report) carries a Zacks Rank of 1. CSL delivered a trailing four-quarter average earnings surprise of 7.6%.
In the past 60 days, the Zacks Consensus Estimate for CSL’s 2024 earnings has increased 8.2%. The stock has risen 63.2% in the past year.
Applied Industrial Technologies, Inc. (AIT - Free Report) presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 10.4%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 40% in the past year.