GE Vernova Q2 revenue beats estimates, lifts 2026 outlook

GE Vernova

22/07/2026 12:05

    

    Overview
  
U.S. power equipment maker's Q2 revenue grew 22% yr/yr, beating analyst expectations
Company raised 2026 revenue and free cash flow guidance on strong demand and backlog growth
Q2 orders surged 88% organically, led by Power and Electrification

    

    Outlook
  
GE Vernova raises 2026 revenue guidance to $45.5-$46.5 bln, up from $44.5-$45.5 bln
Company increases 2026 free cash flow guidance to $11.5-$12.5 bln from $6.5-$7.5 bln
GE Vernova maintains 2026 adjusted EBITDA margin guidance at 12%-14%

    

    Result Drivers
  
ORDER GROWTH - Q2 orders rose 88% organically, led by Power and Electrification segments
BACKLOG EXPANSION - Backlog grew $13.0B sequentially, with gas power equipment backlog and slot reservations increasing from 100 to 116 GW
ELECTRIFICATION DEMAND - Data center orders surpassed $5 bln year-to-date, more than double 2025 total, supporting Electrification growth

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Revenue
Beat
$11.10 bln
$10.73 bln (21 Analysts)
Q2 Net Income
 
$600 mln
 
Q2 Orders
 
$24.20 bln
 

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 31 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for GE Vernova Inc is $1,235.00, about 14.5% above its July 21 closing price of $1,078.81
The stock recently traded at 53 times the next 12-month earnings vs. a P/E of 53 three months ago

    

    Reuters Recommended Reads
  
July 22 - GE Vernova raises annual revenue forecast as strong power demand boosts orders
July 21 - Grid operator in US central states warns of potential rolling blackouts
July 21 - Texas grid operator forecasts record-high electricity demand

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)