Overview
- GE Vernova reported a roughly $176 billion backlog at the end of Q2 and its CEO said the book could reach $200 billion very early in 2027, signaling faster order intake than Wall Street had expected.
- The company posted $11.1 billion in Q2 revenue and $5.1 billion in free cash flow while raising 2026 revenue guidance to $45.5 billion–$46.5 billion.
- Data‑center customers accounted for a jump in orders with more than $5 billion in related bookings in H1 and about 20% of the 116 GW of gas‑turbine capacity now under contract.
- Investors are split as analyst price targets have risen sharply even as the stock faced AI‑themed selling and a low Street target from GLJ Research, producing wide valuation dispersion.
- Operational risks include slow conversion of a long, multi‑year backlog and a weak Wind segment where orders fell roughly 40% year‑over‑year and segment EBITDA losses widened to about $275 million.