Overview
- On July 22 GE Vernova reported Q2 revenue of $11.1 billion and adjusted EPS of $2.47, which trailed the $3.04 analyst consensus.
- New orders jumped 88% organically to $24.2 billion and backlog grew to $176 billion, driven by heavy gas-turbine and grid equipment bookings from utilities and data‑center developers.
- The company generated about $5.1 billion of free cash flow in the quarter and raised full‑year guidance to $45.5–$46.5 billion in revenue and $11.5–$12.5 billion in free cash flow.
- The Wind business weakened sharply with orders down roughly 40%, a quarterly EBITDA loss near $275 million and an expected full‑year wind loss of about $400 million, a key reason shares fell after the report.
- Management’s near‑term priorities are scaling factory output and converting backlog into profitable revenue with targets that include 20 GW of annual gas turbine output in Q3 2026, while execution risks from tariffs, supply chains and multi‑year delivery schedules remain.