Overview
- GE Vernova, which reported first-quarter results Wednesday, topped estimates with earnings of $17.44 per share on about $9.3 billion in sales and raised its 2026 targets for revenue, profit margin, and free cash flow.
- Orders reached $18.3 billion in Q1, up 71% year over year, pushing total backlog to roughly $163 billion, with management now aiming for $200 billion by 2027.
- The company booked about $2.4 billion in data center electrification orders, more than its 2025 total, as hyperscalers ramp spending on transformers, switchgear, and high-voltage gear to power AI computing.
- Free cash flow came in at roughly $4.8 billion for the quarter, and the stock jumped nearly 14% after the report in a broad re-rating of GE Vernova’s role in the AI energy buildout.
- Power and Electrification are lifting margins, but the Wind unit posted a roughly $382 million Q1 loss and is still expected to weigh on 2026 results, with execution, supply chains, and permitting timelines flagged as delivery risks.