Rivian (RIVN) Loses its CFO to GE Vernova (GEV) Right in the Middle of its Biggest Bet Yet

GE Vernova announced CFO Kenneth Parks' retirement in April 2027 and his successor, Rivian CFO Claire McDonough. The company also detailed new grid and renewable projects, including supporting Venezuela’s power network and supplying turbines to a Scottish wind farm. GE Vernova projects $60.9 billion revenue and $9.7 billion earnings by 2029, requiring 15.7% yearly revenue growth. Analysts' earnings estimates for 2029 range from $6.2 billion to $9.7 billion, with geopolitical and policy risks cit

GE Vernova signed a deal to supply 16 6.1MW wind turbines to Scotland's Chleansaid wind farm, with a 20-year maintenance agreement. The project, ESB's first self-developed onshore wind farm in Scotland, aligns with the UK's renewable energy goals. GE Vernova's split-blade technology aims to improve logistical efficiency. Meanwhile, Korea Western Power hosted a technology exchange to enhance gas turbine maintenance expertise, focusing on internal research and advanced technologies like AI and dig

Studsvik AB, a Swedish nuclear services company, agreed with GE Vernova Hitachi (GVH) and Samsung C&T to build 1.2 GW of nuclear energy using the BWRX-300 reactor design. The project, targeting operation in the mid-2030s, will be developed at one of two sites. Studsvik, with a market cap under $200M and 2025 revenue under $100M, acquired Kärnfull Next earlier this year, entering reactor development. This follows GE Vernova's loss to Rolls-Royce in a prior Swedish nuclear project.

Studsvik, GE Vernova Hitachi Nuclear Energy, Samsung C&T, and others agreed to advance a 1.2 GW nuclear project in Sweden, with the first unit expected in the mid-2030s. The project will involve four BWRX-300 units at either Nyköping or Valdemarsvik. Studsvik leads permitting, while GE Vernova Hitachi and Samsung C&T handle engineering and construction.

Rivian is constructing a $5B EV plant in Georgia, with vertical construction underway. The 16M-sq-ft facility will produce SUVs and robotaxis, with initial capacity set at 300,000 vehicles annually. The project is expected to be enclosed by 2027 and includes a $4.5B DOE loan.

Constellation Energy (CEG) secured 30% of its nuclear output in long-term contracts, BWXT's backlog surged 40% to $8.4B, and GE Vernova's backlog reached $176B. CEG, BWXT, and GEV operate in distinct segments of the nuclear power supply chain, with unique cash flow profiles. CEG's Q2 EPS was $2.55, and full-year guidance was raised to $11.50-$12.50. BWXT's Q2 revenue was $902M, up 18% YoY, and GE Vernova's Q2 bookings hit $24.2B, up 88% YoY.