GE Vernova reported second quarter 2026 revenue of $11.1 billion, up 12% organically, while GAAP EPS was $2.47, missing the $3.17 consensus estimate. The company significantly raised its full-year revenue and free cash flow guidance on the back of exceptionally strong order growth.
Key Highlights
- Total orders grew 88% organically to $24.2 billion, driven by continued strength in Power (orders +134% organically) and Electrification (orders +66% organically).
- Full-year 2026 guidance was raised for revenue to a range of $45.5 billion to $46.5 billion (from $44.5-$45.5 billion) and for free cash flow to $11.5 billion to $12.5 billion (from $6.5-$7.5 billion).
- Free cash flow was a robust $5.1 billion for the quarter, an increase of $4.9 billion year-over-year, driven by working capital benefits and stronger adjusted EBITDA.
- The Wind segment remains a headwind, with orders declining 40% and revenue down 11% organically due to lower Onshore Wind equipment demand.