The industrial firm raised revenue and free cash flow forecasts after Q2 orders jumped 88% to $24.2 billion amid AI-driven power infrastructure demand.
GE Vernova increased its 2026 revenue and free cash flow guidance following a strong second quarter, driven by accelerating global demand for power generation and grid equipment. The company’s backlog expanded to $176 billion, up $13 billion sequentially, with a target of $200 billion by 2027.
Orders surged 88% year-over-year to $24.2 billion, with a book-to-bill ratio exceeding two times. Adjusted EBITDA rose 61% to $1.2 billion, while margins expanded 340 basis points, supported by higher equipment and service revenue growth of 14% and 10%, respectively.
CEO Scott Strazik highlighted a multi-decade growth opportunity in electrification, citing doubled equipment orders and a 15% increase in service orders. The company attributed the performance to rising demand for AI-driven data center power infrastructure.