GE Vernova Beats on Revenue but Misses on Earnings

GE Vernova NYSE:GEV fell 5.48% premarket after reporting second-quarter diluted earnings of $2.47 a share, well short of the $3.18 Wall Street analysts expected, even as revenue of $11.1 billion topped the $10.79 billion forecast. Adjusted EBITDA of $1.25 billion carried an 11.3% margin, up 280 basis points from a year earlier.

Orders reached $24.2 billion, up 88% organically, lifting backlog $13.0 billion sequentially to $176 billion. Gas power equipment backlog and slot reservation agreements climbed from 100 to 116 gigawatts, with the company now expecting at least 125 GW under contract by year-end, and Electrification data center orders passed $5 billion year to date, more than double the 2025 total. Free cash flow of $5.1 billion exceeded all of 2025.

Wind remained the weak segment, with revenue down 10% and EBITDA losses widening to $275 million on a negative 13.6% margin. GE Vernova raised full-year revenue guidance to $45.5 billion to $46.5 billion and lifted free cash flow guidance to $11.5 billion to $12.5 billion, from $6.5 billion to $7.5 billion.