GE Vernova Inc. (GEV) Stock: Surges 4.73% as Q3 Revenue Hits $12.6 Billion and Orders Soar 96%

TLDR

• GE Vernova stock jumps 4.73% as third-quarter revenue reaches $12.6 billion.
• GE Vernova’s Q3 orders soar 96% as its total backlog grows to $197 billion.
• GE Vernova raises 2026 revenue guidance after strong Power segment results.
• GE Vernova generates $5.4 billion in free cash flow during the third quarter.
• GE Vernova doubles its share buyback authorization to $20 billion in October.

GE Vernova (GEV) stock surged 4.73% to $895.08, gaining $40.46 during regular trading following strong third-quarter financial results. The company reported $12.6 billion in revenue, representing 27% growth, while organic orders jumped 96% to $29.3 billion. However, shares slipped 0.60% to $890.15 in pre-market trading despite stronger earnings and increased full-year financial guidance.

GE Vernova Inc., GEV

GE Vernova reports strong Q3 earnings and order growth

GE Vernova recorded $1.3 billion in third-quarter net income, compared with $453 million during the previous year. Meanwhile, diluted earnings per share climbed 193% to $4.81, reflecting stronger business performance across its operations. The company’s net income margin also improved to 10.2%, compared with 4.5% a year earlier.

Additionally, adjusted EBITDA reached $1.9 billion, while its margin expanded to 15.4% from 8.1% last year. Operating activities generated $6.1 billion in cash, supporting substantial improvements in the company’s financial position. Free cash flow increased to $5.4 billion, compared with $732 million during the corresponding quarter.

The company’s total backlog reached $197 billion after adding $20 billion during the quarter. Furthermore, strong equipment demand and service contracts supported continued growth across its Power and Electrification businesses. GE Vernova expects its backlog to exceed $200 billion during the fourth quarter of 2026.

Power and Electrification businesses drive revenue growth

GE Vernova’s Power segment generated $6.1 billion in revenue, representing a 25% annual increase. Meanwhile, segment orders reached $21.8 billion, reflecting 178% organic growth driven primarily by gas equipment demand. The company also secured 11 gigawatts of new gas equipment contracts during the quarter.

Gas equipment backlog and slot reservations increased to a combined 122 gigawatts from 116 gigawatts. GE Vernova now expects this combined figure to reach at least 130 gigawatts by year-end. The expansion reflects growing electricity infrastructure needs among utilities, industrial customers, and data centers.

Electrification revenue climbed 51% to $3.9 billion, supported by grid infrastructure and transmission equipment demand. The segment’s equipment backlog increased 60% annually to $42.2 billion, including contributions from Prolec GE. Wind revenue also increased 4% to $2.7 billion, although the business continues to face profitability challenges.

GE Vernova raises 2026 guidance and expands shareholder returns

GE Vernova raised its 2026 revenue forecast to $46.5 billion–$47.5 billion, reflecting stronger operating performance. Previously, the company expected annual revenue between $45.5 billion and $46.5 billion. Management also increased its adjusted EBITDA margin forecast to 13.5%–14.5%, compared with the previous 12%–14% range.

GE Vernova raised its annual free cash flow projection to $16 billion–$17 billion. The previous forecast ranged between $11.5 billion and $12.5 billion, highlighting stronger cash generation expectations. The company ended September with $16.8 billion in cash, providing resources for expansion and shareholder distributions.

In October, GE Vernova doubled its share repurchase authorization to $20 billion from $10 billion. Additionally, the company announced a $9 billion agreement to acquire Trench Group, expanding its high-voltage equipment portfolio. The transaction supports its broader electrification strategy, while the company expects to complete the acquisition in late 2027.

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