$GEV · GE Vernova Inc.
GE Vernova filed its Q3 2026 10-Q, reporting total revenues of $12.642B (+26.8% YoY), operating income of $1.394B (vs. $366M a year ago), and net income attributable to GE Vernova of $1.291B ($4.81 diluted EPS). The Power segment drove the beat with 25% organic revenue growth and 99% EBITDA growth, while Electrification revenues rose 50%. Total RPO reached $130.9B, up 38% from year-end 2025.
- Q3 revenue of $12.642B, up 26.8% YoY, driven by Gas Power equipment deliveries and Electrification growth
- Diluted EPS of $4.81 vs $1.64 a year ago — nearly 3x increase
- Power segment EBITDA margin expanded to 21.4% from 13.4%, with EBITDA up 99% to $1.297B
- Total RPO (backlog) hit $130.9B, up 38% from year-end 2025, led by Gas Power equipment and services
- Cash and equivalents nearly doubled to $16.8B from $8.8B at year-end 2025
Extended-hours trading shows shares at $919.07, up 2.68% from the regular-session close of $895.08, indicating the market is rewarding the massive earnings beat. The regular session had already gained 4.73% on the day.
GE Vernova's 27% revenue growth and near-tripling of net income, backed by a $130.9B backlog, signal that the global electrification supercycle is accelerating faster than expected.
GE Vernova's results underscore the global surge in power infrastructure spending, with Gas Power equipment orders driving RPO to $130.9B. The Electrification segment — grid systems, transmission, and storage — saw 50% revenue growth, reflecting the broader electrification capex cycle across utilities and data-center hyperscalers.
Wind segment EBITDA remained negative at -$585M for the nine months, though Q3 alone turned slightly positive at $72M. Tariff impacts, supply chain disruptions, and quality/safety failures are flagged as ongoing risks. The Trench Group acquisition closing is subject to regulatory approvals and integration risks.