GE Vernova Lifts Outlook as 3Q Profit, Revenue Jump
By Connor Hart
GE Vernova raised its full-year outlook after profit and revenue jumped in the recent quarter, driven by continued demand for electricity infrastructure.
The energy company, formed from the breakup of General Electric, said it now expects revenue to come in between $46.5 billion to $47.5 billion for the year, up from a prior outlook of $45.5 billion to $46.5 billion. It also raised its forecasts for adjusted Ebitda margin and free cash flow.
Analysts polled by FactSet had forecast full-year revenue of $46.33 billion.
Chief Executive Scott Strazik said demand for electricity infrastructure continues to increase, with GE Vernova now projecting its backlog to exceed $200 billion in the fourth quarter.
Orders jumped to $29.3 billion in the latest period, with equipment growth in Power and continued services strength.
"We continue to innovate and develop new solutions for utility and data center customers to meet growing demand, including electrification technologies that support integration and resiliency," he said.
For the third quarter, GE Vernova reported net income of $1.29 billion, up from $453 million a year earlier. Quarterly earnings of $4.81 a share came in ahead of the $4.03 a share that analysts were expecting.
Total revenues jumped 27% to $12.64 billion, topped Wall Street models for $11.99 billion.
GE Vernova also doubled its share repurchase authorization this month, with its board approving an increase to $20 billion, up from $10 billion.
Separately, GE Vernova on Wednesday inked a deal to buy high-voltage grid equipment manufacturer Trench Group from investment-firm Triton Partners for $9 billion. The deal will create scale across GE Vernova's electrification portfolio, the company said, helping it to meet increasing demand for grid-modernization and energy-security technologies.
Shares rose 2.7%, to $919, in premarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 28, 2026 07:12 ET (11:12 GMT)
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