The industrial firm raised 2026 revenue guidance but saw wind segment weakness offset AI-driven order growth.
GE Vernova (GEV) stock declined nearly 5% in premarket trading Wednesday after reporting mixed quarterly results. While the company raised its 2026 revenue forecast to $45.5 billion-$46.5 billion from $44.5 billion-$45.5 billion and highlighted a $176 billion backlog, investors focused on weakness in its wind unit, where new orders fell 40% and offshore project costs rose.
Total company orders surged 88% to $24.2 billion, driven by demand in power and electrification segments. CEO Scott Strazik noted margin expansion and free cash flow growth, emphasizing momentum in gas turbines amid AI infrastructure and manufacturing onshoring trends. The stock has rallied over 65% since early 2026 but remains pressured by wind segment challenges.
The company’s gas turbine business, a key beneficiary of AI-driven power demand, continues to outperform, but the earnings drag from renewables weighed on sentiment.