GE Vernova Inc. (GEV)
NYSE:GEV
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
3.1Last Year’s EPS
1.73Same Quarter Last Year
Strong Buy
Based on 22 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based operational and financial momentum — notably very large order growth, substantial backlog expansion, meaningful margin improvement, and upgraded full-year guidance and free cash flow expectations — anchored by Power and Electrification. The principal negatives are concentrated in Wind (material near-term losses), tariff headwinds (~$250–350M), and supply-chain/capacity timing risks, but management presented concrete mitigation actions (lean, AI, capacity investments, contractual measures). On balance, the positive operational and financial developments significantly outweigh the segment-specific and macro headwinds.Company Guidance
Record Backlog Growth and Faster Timeline
Backlog grew from $116 billion at spin to $163 billion, adding $13 billion in the last 90 days, and management now expects to reach $200 billion in backlog in 2027 (previously 2028).
Very Strong Orders and Book-to-Bill
Booked $18.3 billion of orders in Q1, up 71% year-over-year, with a book-to-bill ratio of ~2; equipment orders more than doubled and services orders increased 25%.
Revenue and Margin Expansion
Consolidated revenue grew 7% year-over-year; adjusted EBITDA grew 87% YoY to $896 million and adjusted EBITDA margin expanded by 390 basis points in Q1.
Power Segment Momentum
Power orders grew 59% YoY; shipped 25 gas turbines (+32% YoY); Power revenue increased 10% and segment EBITDA margin expanded 500 basis points to 16.3%; guidance calls for ~16%–18% organic revenue growth and 17%–19% EBITDA margins for 2026.
Gas Power Contracting and Pricing Strength
Signed 21 GW of new gas turbine agreements in Q1, raising total gigawatts under contract from 83 to 100 sequentially; backlog (GW) increased from 40 to 44 and slot reservations from 43 to 56; company expects new orders in 2026 to be priced 10–20 percentage points higher vs Q4 2025 on a $/kW basis and to end 2026 with at least 110 GW under contract.
Electrification Segment Outperformance
Electrification orders rose ~86% YoY to ~$7.1 billion (roughly 2.5x revenue), equipment backlog increased to ~$39 billion (up ~75% YoY), GAAP revenue rose ~61% inclusive of Prolec (29% organically), and segment EBITDA margin expanded ~590 basis points to 17.8%; 2026 revenue guidance raised to $14.0–14.5 billion and EBITDA margin to 18%–20%.
Prolec Acquisition and Early Integration Wins
Completed acquisition of remaining 50% of Prolec for $5.3 billion; Prolec added roughly $5 billion of backlog (up $1 billion since announcement) and is expected to contribute ~ $3.0 billion of revenue in 2026; early Kaizen efforts at Prolec yielded ~70% reduction in rework hours and ~40% output improvement in a transformer subassembly Kaizen.
Exceptional Free Cash Flow and Strong Liquidity
Generated $4.8 billion of free cash flow in Q1 (above full-year 2025 free cash flow of $3.7 billion); working capital provided a $5.3 billion cash benefit driven by down payments and slot reservations; ended Q1 with approximately $10.2 billion in cash and remained below 1x gross debt/adjusted EBITDA after issuing $2.6 billion of debt.
Upgraded Full-Year 2026 Guidance
Raised full-year revenue guidance to $44.5–45.5 billion (up $0.5 billion), increased adjusted EBITDA margin guidance to 12%–14% (up 100 bps at both ends), and raised free cash flow guidance to $6.5–7.5 billion (previously $5.0–5.5 billion).
Investing in Growth and Productivity (AI, Lean, R&D, CapEx)
Invested approximately $700 million in combined R&D and CapEx in Q1 with R&D up ~25% YoY; company running Kaizen events and AI initiatives (targeting 26 AI-based process transformations), expects >$100 million of future EBITDA improvement from Kaizen activities and tens of millions in annual sourcing savings from AI-driven parts rationalization.
GEV Earnings History
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 |
|---|---|---|---|
Apr 22, 2026 | $991.30 | $1127.56 | +13.75% |
Jan 28, 2026 | $692.28 | $711.16 | +2.73% |
Oct 22, 2025 | $584.54 | $575.23 | -1.59% |
Jul 23, 2025 | $548.03 | $627.92 | +14.58% |
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.
FAQ
When does GE Vernova Inc. (GEV) report earnings?
GE Vernova Inc. (GEV) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is GE Vernova Inc. (GEV) earnings time?
GE Vernova Inc. (GEV) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GEV EPS forecast?
GEV EPS forecast for the fiscal quarter 2026 (Q2) is 3.1.
