Overview
- GE Vernova reported Q2 results on Wednesday, July 22, 2026, with revenue of $11.1 billion and adjusted EPS of $2.47 that missed the $3.04 analyst consensus.
- The company generated $5.1 billion of free cash flow in Q2 and sharply raised full-year free cash flow guidance to $11.5–$12.5 billion from $6.5–$7.5 billion.
- New orders jumped 88% organically to $24.2 billion for the quarter and backlog expanded to $176 billion, while management said it expects at least 125 GW of gas equipment under contract by year-end 2026 and 20 GW of annual turbine output in Q3 2026.
- Segment results diverged with Power and Electrification showing stronger profits and higher equipment and data‑center orders, while Wind posted a roughly 10% revenue decline and a $275 million quarterly EBITDA loss with an expected full-year shortfall.
- Shares fell about 2.7% in premarket trading after the print and the company warned that international tariffs could add $100–$200 million of costs in 2026, making margin progress and backlog conversion the key metrics for investors to watch next.