GE Vernova NYSE:GEV shares fell nearly 4% on Wednesday after the energy equipment company reported second-quarter adjusted profit below Wall Street expectations while raising its full-year revenue and free cash flow outlook.
GE Vernova said second-quarter net income rose to $649 million, or $2.47 per share, from $492 million, or $1.86 per share, a year earlier. Revenue increased 22% to $11.1 billion, supported by growth in its Power and Electrification businesses.
Adjusted EBITDA totaled $1.25 billion, slightly below analyst expectations. GE Vernova's Wind segment posted a wider EBITDA loss of $275 million, while revenue in that business declined nearly 10% because of lower onshore equipment volumes and higher offshore project costs.
GE Vernova raised its 2026 revenue forecast to $45.5 billion to $46.5 billion and increased its free cash flow outlook to $11.5 billion to $12.5 billion, but left adjusted EBITDA margin guidance unchanged at 12% to 14%.
GE Vernova also said global tariffs are expected to increase costs by $100 million to $200 million in 2026. Total orders nearly doubled to $24.2 billion from $12.4 billion a year earlier, indicating continued demand across its energy businesses.