GE Vernova Warns Efforts to Halt Offshore Wind Projects Could Hurt Operations — Update

By Connor Hart

GE Vernova warned that the Trump administration's efforts to halt construction of all U.S. offshore wind projects could hurt its wind division.

The warning whipsawed the energy company's stock. Shares initially climbed more than 5% in premarket trading Wednesday, after GE Vernova raised its full-year outlook and reported higher fourth-quarter earnings. The stock swung lower after the company disclosed the potential hit to its wind division, before trading about flat.

Chief Financial Officer Ken Parks said the company's wind division recorded higher-than-expected losses during the recent quarter, after the U.S. government in December issued a stop-work order for offshore wind projects including Vineyard Wind 1, located off Martha's Vineyard.

GE Vernova hopes construction at the site can resume soon, after a federal judge on Tuesday struck down the Trump administration's decision to halt work on the nearly complete project. But timelines remain murky, and speed is of the utmost importance, Parks said.

"At the end of March, we'll lose access to the vessel required to complete installation of the remaining turbines," he said. "If we're unable to complete the installation of the remaining 11 turbines, 2026 wind revenue could be negatively impacted by approximately $250 million."

GE Vernova, formed from the breakup of General Electric, said continued momentum across its power and electrification business would help offset any potential hit to its wind division. The company is experiencing robust demand for grid and data-center equipment, both with traditional customers across the globe and hyperscalers in the U.S., Chief Executive Scott Strazik said.

This demand helped drive higher-than-expected orders during the fourth quarter. Increased orders boosted revenue, which climbed 3.8% to $10.96 billion and topped the $10.22 billion that Wall Street modeled, according to FactSet.

GE Vernova posted a profit of $3.67 billion, up from $484 million a year earlier, buoyed by a $2.57 billion benefit for income taxes. Quarterly earnings of $13.39 a share came in ahead of the $3.28 a share that analysts forecast.

Looking ahead, the Cambridge, Mass., company said it now expects revenue of $44 billion to $45 billion in 2026, up from a prior outlook of $41 billion to $42 billion. It attributed the increase in part to its acquisition of Prolec GE, which is expected to close next week.

Longer term, GE Vernova said it now expects to hit annual revenue of $56 billion by 2028, up from a previous forecast of $52 billion, fueled by continued growth across all its business segments.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 28, 2026 10:16 ET (15:16 GMT)