General Electric (GE) Arm Wins Power Plant Deal in Poland
General Electric Company GE unit GE Power announced that it secured a contract from Energa SA, a subsidiary of ORLEN Group, for a GE 9HA.02 turnkey combined cycle power plant project for north-east Poland-based Ostroleka C power plant. After Dolna Odra, this will be GE’s second H-Class gas turbine order in Poland.
Inside the Headlines
The power plant will be made up of a GE 9HA.02 gas turbine, an STF-D650 steam turbine, a Heat Recovery Steam Generator (HRSG), a W88 generator and GE's integrated Mark VIe Distributed Control System (DCS).
The 9HA gas turbine comes with a DLN 2.6e combustion system built inside, which can burn about 50% by volume of hydrogen when blended with the natural gas. GE will build the steam turbine in its factory in Elblag, Poland and the generator will be made in its plant in Wroclaw, Poland. GE will construct the gas turbine at its Manufacturing Excellence Center in Belfort, France. This deal will aid in growing renewable energy and ensure a stable supply of electric energy in Poland.
General Electric will also be responsible for engineering and construction of the combined cycle power plant. The power plant will likely become operational in 2025 with a capacity to produce electricity of 745 megawatts. This deal is a testimony to GE's commitment toward driving decarbonization in the power generation sector.
Zacks Rank, Price Performance and Estimate Trend
General Electric, with a $67.8-billion market capitalization, currently carries a Zacks Rank #4 (Sell).
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In the past three months, its share price has decreased 30.6% against the industry's decline of 14.8%.
The Zacks Consensus Estimate for second-quarter 2022 earnings has decreased 9.3% to 39 cents in the past 60 days. Also, earnings estimates for 2022 have moved 2.8% south to $2.82 during the same period.
Stocks to Consider
Two better-ranked companies from the Conglomerates sector are discussed below:
Griffon Corporation GFF presently sports a Zacks Rank #1 (Strong Buy). GFF’s earnings surprise in the last four quarters was 97%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
In the past 60 days, Griffon’s earnings estimates have increased 28.9% for fiscal 2022 (ending September 2022). The stock has rallied 56.5% in the past three months.
Carlisle Companies Incorporated CSL presently flaunts a Zacks Rank of 1. CSL delivered a trailing four-quarter earnings surprise of 23%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 10.7% for 2022. CSL’s shares have increased 5% in the past three months.
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