Key Highlights

  • GE Vernova delivered Q1 EPS of $17.44 on revenue of $9.3B, surpassing analyst projections of $1.97 EPS and $9.2B in revenue
  • First-quarter orders jumped 71% from the prior year to reach $18.3B, representing almost twice the quarterly revenue figure
  • Management increased full-year 2026 Ebitda guidance to $5.9B, above previous projections of approximately $5.3B
  • The firm anticipates achieving a $200B backlog by the conclusion of 2026, accelerating the timeline by two years
  • GEV shares climbed approximately 4.8% during premarket hours, touching a new 52-week peak above $1,038

GE Vernova released first-quarter financial results on Wednesday that exceeded analyst projections on every metric, propelling shares to a new 52-week record during premarket hours.

The energy technology company delivered Q1 earnings per share of $17.44, significantly surpassing the $1.97 Wall Street consensus. This figure incorporated a $4 billion gain associated with the Prolec GE acquisition. Quarterly revenue reached $9.3 billion, exceeding the $9.2 billion analyst estimate.

Adjusted Ebitda totaled $896 million for the period, beating the $770 million analyst forecast. The prior-year quarter saw Ebitda of $457 million.


GEV Stock Card
GE Vernova Inc., GEV

The standout metric proved to be order intake. GEV secured $18.3 billion in Q1 orders, representing a 71% year-over-year increase and approaching double the quarter’s revenue. The comparable period last year saw orders of $10.2 billion.

The electrification segment generated core profit of $528 million, climbing from $205 million in the year-ago quarter. The power segment delivered $811 million, marking growth of nearly 57%.

Management Elevates Full-Year Projections

For the complete 2026 fiscal year, GE Vernova increased its revenue forecast to $44.5–$45.5 billion, rising from earlier guidance of $44–$45 billion. Adjusted core profit margin expectations moved to 12–14%, compared with the previous 11–13% range.

Ebitda projections were elevated to approximately $5.9 billion, above the roughly $5.3 billion indicated by earlier forecasts. Analyst consensus had settled at $5.8 billion.

CEO Scott Strazik indicated the company anticipates reaching a minimum of 110 gigawatts of combined gas turbine backlog and slot reservation agreements before year-end.

Management also advanced its $200 billion backlog objective — the company now projects hitting this benchmark by the close of 2026, bringing the timeline forward by two full years.

“This is a unique opportunity for us…all indications are we are early in this cycle,” Strazik said.

Shares Continue Extended Rally

GEV advanced 4.8% in premarket activity to $1,038.87, establishing a new 52-week high. The broader equity market showed modest strength, with S&P 500 and Dow futures rising approximately 0.5%.

Shares had already appreciated around 204% during the preceding 12 months before Wednesday’s trading. The stock climbed roughly 50% following the Q4 earnings announcement in January alone.

The average Wall Street price target has advanced to around $900, climbing from $406 one year ago, although the stock has surpassed these objectives — advancing from roughly $290 to near $1,000 during that timeframe.

Close to 80% of analysts following GEV maintain a Buy rating. JPMorgan’s Mark Strouse maintains a $1,150 price objective on shares, pointing to ongoing pricing strength in gas power and anticipated margin expansion through the early 2030s.

GEV maintains roughly 100 gigawatts of power turbines under contract. The company delivered four gigawatts during Q1. AI data centers represent about 20% of demand, while utilities and traditional customers comprise the remainder.