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GE Vernova's orders nearly double as it raises its 2026 outlook

Orders rose 96% to $29.3 billion and the backlog reached $197 billion as the power-equipment maker beat estimates and lifted its forecasts for the year.

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Why it matters: GE Vernova raised its 2026 revenue and cash forecasts as orders nearly doubled, though the stock turned lower on earnings day, CNBC reported.

For information only, not investment advice. Prices delayed.

Tickers: GEV

GE Vernova ($GEV) booked $29.3 billion of orders in the third quarter, up 96% from a year earlier, CNBC reported. The backlog grew $20 billion in the quarter to $197 billion, the company said, and CEO Scott Strazik expects it to top $200 billion in the fourth quarter.

Revenue rose 27% to $12.6 billion, the company said, ahead of the $11.99 billion analysts polled by LSEG expected. Earnings of $4.81 a share were up 193% and above LSEG's $3.94 consensus, according to CNBC. GE Vernova raised its 2026 outlook: revenue of $46.5 billion to $47.5 billion and free cash flow of $16 billion to $17 billion, up from $11.5 billion to $12.5 billion.

Strazik said in the release: “We delivered strong financial results in the third quarter as demand for electricity infrastructure increases around the world.” He added that the company is developing new solutions for utility and data center customers.

Gas turbine contract signings have been uneven this year. Per CNBC, GE Vernova signed 21 gigawatts of new gas equipment contracts in the first quarter, 20 in the second and 11 in the third, and guided to 13 in the fourth.

The stock rose in premarket trading Wednesday, then turned lower once the earnings call got underway, according to CNBC, and 24/7 Wall St. had it down 6% early in the session. On Thursday, shares were at $888.86, up 1.23% as of Oct 29, 2:22 PM ET.

GE Vernova also doubled its share repurchase authorization to $20 billion and agreed to acquire grid-equipment maker Trench Group for $9.0 billion.

Sources

  1. GE Vernova reports strong third quarter 2026 financial performance, GE Vernova
  2. GE Vernova releases third quarter 2026 financial results, announces agreement to acquire Trench Group, GE Vernova
  3. GE Vernova to acquire Trench Group, GE Vernova
  4. GE Vernova shares slip despite a beat and raise, CNBC
  5. GE Vernova falls 6% despite beat, raise and $9B Trench deal, 24/7 Wall St.

Tags: earnings · guidance · energy · ai