GE Vernova just delivered a powerful response to the AI power crunch ⚡
Before the market opened on 10/28, GE Vernova (NYSE: GEV) released its Q3 2026 earnings, with some eye-catching numbers:
1️⃣ Orders: $29.3B, up 96% organically; Power segment orders: $21.8B, up 178% organically
2️⃣ Total backlog: $197B, up $20B quarter over quarter. The company says it expects to top $200B in Q4
3️⃣ Revenue: $12.6B, up 27%; adjusted EBITDA margin: 15.4%, up 690 bps organically
4️⃣ Free cash flow: $5.4B; share repurchase authorization doubled from $10B to $20B
5️⃣ Full-year guidance raised for the third time: revenue of $46.5–47.5B, FCF of $16–17B
6️⃣ Also announced: the acquisition of Trench Group, a high-voltage grid equipment maker, for approximately €8.0B (about $9.0B), with closing expected by the end of 2027
My take:
Last cycle, everyone was focused on GPUs. This cycle, attention is shifting to gas turbines and transformers. GE Vernova’s gas turbine backlog, including reservations, climbed from 116GW to 122GW, with 130GW in sight by year-end. That’s the “power” data centers need.
Vertiv handles power and cooling inside the data center; GEV handles power generation and the grid outside it. Money from AI capex is spilling over, layer by layer, into the physical world.
I’m sticking with the civilization built by U.S. tech stocks—not the other side.
Source: GE Vernova official Q3 2026 press release / 10-Q / earnings presentation (10/28)
Not investment advice. DYOR.
Before the market opened on 10/28, GE Vernova (NYSE: GEV) released its Q3 2026 earnings, with some eye-catching numbers:
1️⃣ Orders: $29.3B, up 96% organically; Power segment orders: $21.8B, up 178% organically
2️⃣ Total backlog: $197B, up $20B quarter over quarter. The company says it expects to top $200B in Q4
3️⃣ Revenue: $12.6B, up 27%; adjusted EBITDA margin: 15.4%, up 690 bps organically
4️⃣ Free cash flow: $5.4B; share repurchase authorization doubled from $10B to $20B
5️⃣ Full-year guidance raised for the third time: revenue of $46.5–47.5B, FCF of $16–17B
6️⃣ Also announced: the acquisition of Trench Group, a high-voltage grid equipment maker, for approximately €8.0B (about $9.0B), with closing expected by the end of 2027
My take:
Last cycle, everyone was focused on GPUs. This cycle, attention is shifting to gas turbines and transformers. GE Vernova’s gas turbine backlog, including reservations, climbed from 116GW to 122GW, with 130GW in sight by year-end. That’s the “power” data centers need.
Vertiv handles power and cooling inside the data center; GEV handles power generation and the grid outside it. Money from AI capex is spilling over, layer by layer, into the physical world.
I’m sticking with the civilization built by U.S. tech stocks—not the other side.
Source: GE Vernova official Q3 2026 press release / 10-Q / earnings presentation (10/28)
Not investment advice. DYOR.