GE Vernova Reports Strong Results

GE Vernova (GEV) reported second-quarter 2026 results showing revenue of $11.1 billion, up 22% year over year and above the $10.73 billion analysts expected, while adjusted earnings per share of $2.47 missed the $3.04 consensus. Orders surged 88% year over year to $24.2 billion, pushing the backlog to a record $176 billion, and shares fell roughly 3% in premarket trading as investors focused on the EPS shortfall despite the broader beat-and-raise.

Power segment organic orders jumped 134% to $16.7 billion, with segment revenue up 14% to $5.5 billion. CEO Scott Strazik has repositioned GE Vernova as an AI-power and grid story since the April 2024 spinoff from GE, striking partnerships with NVIDIA and nuclear startups and moving the company's headquarters to Cambridge, Massachusetts; the stock is up roughly 600% since the split.

Management raised full-year 2026 guidance to revenue of $45.5 billion to $46.5 billion and free cash flow of $11.5 billion to $12.5 billion, after posting $5.1 billion in second-quarter free cash flow, and continues to target roughly 50% revenue growth by 2028 off 2025's $38 billion base. Tema ETFs LLC increased its position in GE Vernova, a sign of continued institutional interest even as the market weighed the EPS miss.

Investors will be watching whether the record backlog and Power segment order momentum can convert into earnings that catch up with the top-line growth, and whether the raised guidance holds through the back half of 2026.

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