GE Vernova raised its 2026 outlook as power orders jumped 88 percent

The free cash flow forecast nearly doubled. GE Vernova now expects to generate $11.5bn to $12.5bn this year, up from a prior range of $6.5bn to $7.5bn, and lifted its revenue guidance to $45.5bn to $46.5bn in results dated July 22.

Orders were the story underneath. They reached $24.2bn in the quarter, up 88 percent on an organic basis, with the Power and Electrification segments leading and the backlog rising to $176bn. Revenue came in at $11.1bn, up 22 percent and 12 percent organically. Net income was $0.6bn and adjusted EBITDA was $1.2bn, an 11.3 percent margin. Free cash flow of $5.1bn was up $4.9bn from a year earlier, which the company noted is more than it produced across the whole of 2025, because customers pay for turbines and grid gear well before delivery.

The gas business signed 20 gigawatts of new equipment contracts. Scott Strazik, the chief executive, said the company now expects at least 125 gigawatts of gas equipment under contract by the end of the year, and that data center orders had passed $5bn year to date, more than double the 2025 total.