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General Electric's (GE) Haliade-X Prototype Gets Operational

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General Electric Company’s GE business unit, GE Renewable Energy, yesterday announced that its Haliade-X prototype has become operational at 14 MW in Rotterdam, the Netherlands.

This makes GE Renewable Energy the first participant in the industry to operate a wind turbine with such a high power output.

General Electric closed the trading session at $104.90 yesterday.

Inside the Headline

The company’s Haliade-X 14 MW is built on the Haliade-X 13 MW version that obtained its type certification at the beginning of this year. As noted, the certification measurements on the company’s Haliade-X 14 MW version have commenced.

The advanced Haliade-X 14 MW turbine is capable of generating gross annual energy production of 74 GWh and can save a maximum of 52,000 metric tons of carbon dioxide. The high power production capability of a single Haliade-X 14 MW turbine reduces the number of turbines required for installation at a wind farm for generating a given renewable energy output. This, in turn, makes the operations and maintenance of a wind farm simpler apart from lowering the capital expenditure.

The commercial launch of the Haliade-X 14 MW will be at the Dogger Bank C offshore wind farm, based in the North Sea, 130 km off England’s northeast coast. GE Renewable Energy will be responsible for supplying 87 Haliade-X 14 MW turbine units for the Dogger Bank C wind farm.

Zacks Rank, Price Performance and Estimate Trend

General Electric, with a $115.1-billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is likely to gain from solid contract wins, acquired assets, actions to restructure its portfolio, and a strong liquidity position. However, the market-related challenges in the Aviation segment persist.

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Zacks Investment Research

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In the past three months, the company’s shares have gained 1.5% compared with the industry’s increase of 0.1%.

The Zacks Consensus Estimate for 2021 earnings has decreased 1% to $1.97 in the past 30 days. Earnings estimates for 2022 have declined 3.6% to $4.01 during the same period.

Stocks to Consider

Some better-ranked stocks from the same space are Raven Industries, Inc. RAVN, Danaher Corporation DHR, and Griffon Corporation GFF. While Raven currently sports a Zacks Rank #1 (Strong Buy), Danaher and Griffon carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Raven pulled off an earnings surprise of 42.59%, on average, in the trailing four quarters.

Danaher pulled off an earnings surprise of 27.52%, on average, in the trailing four quarters.

Griffon pulled off an earnings surprise of 26.02%, on average, in the trailing four quarters.


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General Electric Company (GE) : Free Stock Analysis Report

Danaher Corporation (DHR) : Free Stock Analysis Report

Raven Industries, Inc. (RAVN): Free Stock Analysis Report

Griffon Corporation (GFF) : Free Stock Analysis Report

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