GE Vernova Inc. (GEV) reported second-quarter earnings on Wednesday, with total backlog growing to more than $176 billion, a 37% year-on-year increase. The growth was driven by equipment orders that more than doubled and a 15% increase in service orders, led by the power and electrification segments. GEV Stocks edged higher overnight, reversing a decline of more than 8% at close, the company's steepest fall this year, despite missing earnings per share expectations while topping revenue estimates.
GE Vernova Backlog Grows to $176 Billion in Q2
The energy equipment and services company said its total backlog grew to more than $176 billion, a 37% year-on-year increase. Management said that backlog is on track to grow to $200 billion by 2027.
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A growth in equipment orders, which more than doubled, and a 15% increase in service orders contributed to the increase. Total orders grew 88%, led by the power and electrification segments.
"The long-cycle electric power industry is in the early stages of a multi-decade growth opportunity and we are well positioned to create substantial value," CEO Scott Strazik said on the investor call.
GE Vernova Reports Q2 Revenue of $11.1 Billion
GE Vernova reported quarterly revenue of $11.1 billion, up 22% year over year, beating Wall Street estimates, while adjusted earnings per share of $2.47 missed the consensus.
The company raised its full-year 2026 revenue guidance to about $46 billion from $45 billion.
The wind business remained a drag on the company, with wider losses, lower revenue, and a 40% drop in new orders due to permitting delays and market uncertainty.
Analyst Highlights GE Vernova Pricing Power
Shay Boloor, Chief Market Strategist at Futurum Equities, noted the rise in a post on X, highlighting how customers are willing to pay years in advance to secure scarce manufacturing slots, putting the spotlight on GEV's pricing power.
"That backlog shows AI data centers cannot wait for the grid with gas turbines offering one of the fastest paths to dispatchable power in a market served by only three global suppliers," he said.
Retail Sentiment Turns Extremely Bullish on GEV Stock
On Stocktwits, retail sentiment around GEV stock jumped from 'bullish' to 'extremely bullish' over 24 hours as message volumes increased 590% in the same time, according to platform data.
One user said, "$GEV sinking 8% to 990 after mixed earnings, wind losses eating into an otherwise solid backlog print. this thing ran so hard the last few months, feels like a classic buy the rumor sell the news. calling it now, no follow-through."
Another user said, "$GEV Going to be a big snapback tomorrow."
GEV stock has gained nearly 45% so far in 2026.
FAQ
What did GE Vernova report in Q2 earnings?
GE Vernova reported second-quarter revenue of $11.1 billion, up 22% year over year, beating Wall Street estimates. Adjusted earnings per share of $2.47 missed the consensus. The company's total backlog grew to more than $176 billion, a 37% year-on-year increase.
Why did GE Vernova's backlog grow in Q2?
The growth was driven by equipment orders that more than doubled and a 15% increase in service orders. Total orders grew 88%, led by the power and electrification segments. Management said that backlog is on track to grow to $200 billion by 2027.
How did GEV stock perform after Q2 earnings?
GEV stock edged higher overnight, reversing a decline of more than 8% at close, the company's steepest fall this year. The stock has gained nearly 45% so far in 2026.
