General Electric said it no longer expects profitability to improve at its GE Renewable Energy business in the second half of the year as pressure continues to pile on its onshore wind operation.

"It's been a disappointing first half. We are working intensely, focused on stabalising the business," said GE CEO Larry Culp on an earnings call. The US industrial giant recently rebranded its conventional energy, grid, renewables, and energy financial services businesses as GE Vernova which it plans to spin off in 2024.