The earnings call revealed strong growth in several segments, particularly in gas power and electrification, leading to enhanced revenue and margin expectations. However, challenges such as wind segment losses, tariff impacts, and European order weaknesses were noted. Despite these issues, the positive developments and strategic investments project a strong outlook.

Company Guidance

During GE Vernova's second quarter 2025 earnings call, the company provided updated guidance and key metrics reflecting strong performance and a positive outlook. The company has raised its full-year free cash flow guidance to a range of $3 billion to $3.5 billion, driven by higher down payments from increased orders and an updated adjusted EBITDA margin guidance of 8% to 9%. GE Vernova's equipment backlog grew to $50 billion, contributing to a total backlog of $129 billion. The Power segment is expected to see organic revenue growth between 6% and 7%, with an improved EBITDA margin of 14% to 15%. The Electrification segment is also showing robust growth, with a revised revenue growth expectation of approximately 20% and an increased EBITDA margin range of 13% to 15%. Meanwhile, the Wind segment, despite some challenges, is projected to improve, with EBITDA losses trending towards the lower end of the $200 million to $400 million range. The company highlighted significant investments in automation and robotics as part of its strategy to enhance operational efficiency and competitiveness, particularly in its Gas Power and Electrification businesses.

Strong Gas Power Orders

9 gigawatts of new gas equipment contracts signed, with backlog growing to 55 gigawatts. Expectation to reach 60 gigawatts by year-end.

Electrification Backlog Growth

Equipment backlog increased by $2 billion in Q2 2025, with significant contributions from Europe, North America, and Asia.

Positive Free Cash Flow

GE Vernova delivered positive free cash flow again in Q2, ending the quarter with almost $8 billion of cash.

Increased EBITDA Margin Expectations

Revised up EBITDA margin expectations for both Power and Electrification segments and increased free cash flow expectations for the year.

Strong Orders and Revenue Growth

Orders increased 4% year-over-year, with revenue up 12% and adjusted EBITDA increasing by over 25%.

Electrification Segment Margin Expansion

Significant EBITDA margin expansion in Electrification to 14.6%, driven by more profitable volume and favorable pricing.

Wind Segment Improvements

Despite losses, Onshore Wind saw double-digit revenue growth and investments to enhance fleet performance.

GE Vernova Inc. (GEV) Earnings, Revenues Date & History

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GEV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 22, 2025	2025 (Q3)	1.65 / -	-0.159	―	―	―
Jul 23, 2025	2025 (Q2)	1.48 / 1.73	0.081	2034.57% (+1.65)
Apr 23, 2025	2025 (Q1)	0.47 / 1.07	-0.41	361.95% (+1.48)
Jan 22, 2025	2024 (Q4)	2.28 / 0.81	1.7	-52.41% (-0.89)
Oct 23, 2024	2024 (Q3)	0.19 / -0.16	-0.62	74.35% (+0.46)
Jul 24, 2024	2024 (Q2)	0.74 / 0.08	-0.547	114.81% (+0.63)
Apr 25, 2024	2024 (Q1)	-0.48 / -0.41	-1.149	64.32% (+0.74)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GEV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	$548.99	$629.03	+14.58%
Apr 23, 2025	$325.93	$335.94	+3.07%
Jan 22, 2025	$415.50	$426.59	+2.67%
Oct 23, 2024	$275.88	$279.34	+1.25%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.