General Electric Company’s GE business unit GE Digital announced that its cloud-based Asset Performance Management (APM) Reliability software has been selected by ELPEDISON S.A., Greece’s first independent energy producer, to enhance the accuracy of the latter’s combined cycle fleet.
ELPEDISON will install the APM Reliability software in its Thisvi and Thessaloniki power plants.
The APM Reliability software brings down unexpected downtime by detecting equipment issues in advance. It allows the asset-intensive organizations to monitor their operations and also provides them with a comprehensive set of analytical tools—including digital twin blueprints. The application aids in lowering asset failures, increasing production availability as well as controlling costs. From the plant to the enterprise, the software can work across the assets including fixed, rotating, and non-rotating, manufacturers (GE and non-GE), equipment types and industries as well.
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The installation of the APM Reliability software bolsters the existing strategic relationship between the two companies. It is worth noting that GE Gas Power completed a project in September 2021 to upgrade ELPEDISON’s Thessaloniki power plant with a GE 9F gas turbine and a Franco Tosi-supplied steam turbine. As part of the project, GE Digital’s Operations Performance Management software was installed for use by ELPEDISON to analyze Thessaloniki’s plant operations and monitor thermal performance to improve efficiency and flexibility.
Zacks Rank and Stocks to Consider
GE currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Applied Industrial Technologies, Inc. AIT presently sports a Zacks Rank #1 (Strong Buy) and has a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 4.6% for fiscal 2023 in the past 60 days. Shares of Applied Industrial have risen 28.7% in the past year.
MRC Global Inc. MRC presently has a Zacks Rank of 1. MRC’s earnings surprise in the last four quarters was 103%, on average.
In the past 60 days, MRC Global’s earnings estimates have increased 16.2% for 2022. The stock has rallied 71.8% in the past year.
Titan International, Inc. TWI presently carries a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 49.6%, on average.
In the past 60 days, TWI’s earnings estimates have increased 1.4% for 2022. The stock has surged 72.4% in the past year.
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