GE Vernova Q3 2026 earnings: profit and orders beat as outlook rises again

October 28, 2026

GE Vernova topped profit and revenue estimates as orders nearly doubled, and it raised its full-year 2026 outlook again.

Key takeaways

• GE Vernova’s third-quarter profit and revenue both came in above Wall Street’s expectations, continuing a run of beats this year as customers keep ordering power equipment faster than the company can fill the orders.
• New orders jumped to roughly $29.3 billion, nearly double the year-ago level, pushing the company’s backlog of unfilled work up by about $20 billion in just three months to roughly $197 billion. Management now expects that backlog to top $200 billion by year-end.
• The gas-power business was the biggest driver, with equipment orders tied to new power plants surging as electricity demand climbs — much of it linked to data centers and AI computing. The company raised the amount of gas-turbine capacity it has locked in under contract to at least 130 gigawatts by year-end, up from its earlier 125-gigawatt target.
• The electrification (grid equipment) business grew revenue at a double-digit pace, though new orders there dipped from an unusually large year-ago comparison; the offshore and onshore wind business remained the laggard, still on track for a loss this year even as its revenue edged higher.
• Management raised its full-year 2026 revenue guidance again, to $46.5 billion-$47.5 billion from the prior $45.5 billion-$46.5 billion range, and lifted its cash-flow outlook as well, marking another increase after raises earlier in the year.
• The board more than doubled the company’s stock buyback authorization, to $20 billion from $10 billion, and declared a quarterly dividend of $0.50 per share — moves that point to confidence in the cash the business is generating.
• The fundamentals table shows profit margins widening over the past year, as higher-margin service work and power-equipment sales grew faster than costs; return on equity above 80% reflects that profit growth, though part of the jump in trailing-year earnings also traces to a one-time gain booked earlier in 2026 from a joint-venture stake acquisition, not purely from operations.

How the stock took it

GE Vernova Inc. closed at $895.08 on Oct 27, 2026, the last session before the report, and at $887.85 on Oct 29, 2026, the first session after it — -0.8% across the report.

Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.

Fundamentals

Sources: company report