GE Vernova reports Q2 EPS $1.86, consensus $1.50

Reports Q2 revenue $9.11B, consensus $8.8B. Orders of $12.4B, +4% organically; continued strong demand at Power and Electrification. “GE Vernova (GEV) had a productive second quarter, positioning us well to continue to accelerate our growth and margin expansion from here. We grew our backlog by more than $5 billion and increased our Gas equipment backlog and slot reservation agreements from 50 to 55 gigawatts. With strength in Power and Electrification, we are raising our revenue, adjusted EBITDA margin, and free cash flow expectations for the year,” said GE Vernova CEO Scott Strazik. “We are at the beginning of an investment supercycle into more reliable baseload power, grid infrastructure and decarbonization solutions. Our near-term results are improving, but more importantly, our long-term potential is accelerating faster.”