Investing.com — GE Vernova Inc. (NYSE: GEV) reported third-quarter results that exceeded analyst expectations and raised its full-year guidance, sending shares up 2.5% following the announcement.
The company reported adjusted earnings per share of $4.81, beating the analyst estimate of $4.00 by $0.81. Revenue reached $12.64 billion, surpassing the consensus estimate of $12 billion and representing a 27% increase, or 18% organically. Net income for the quarter was $1.3 billion, with a net income margin of 10.2%. Adjusted EBITDA reached $1.9 billion with a margin of 15.4%, up 690 basis points organically.
“We delivered strong financial results in the third quarter as demand for electricity infrastructure increases around the world,” said CEO Scott Strazik. “Given our performance and confidence in our trajectory, we are raising our 2026 financial guidance.”
The company generated $6.1 billion in cash from operating activities and $5.4 billion in free cash flow during the quarter. Orders totaled $29 billion, up 96% organically, driven by equipment demand at Power and continued services strength. Backlog grew by $20 billion sequentially to reach $197 billion.
For fiscal year 2026, GE Vernova raised its revenue guidance to a range of $46.5 billion to $47.5 billion. The midpoint of $47 billion exceeds the analyst consensus of $46.2 billion. The company also now expects adjusted EBITDA margin of 13.5% to 14.5%, up from 12% to 14%, and free cash flow of $16 to $17 billion, up from $11.5 to $12.5 billion.
GE Vernova’s board of directors increased the share repurchase authorization to $20 billion from $10 billion in October.
Additionally, the company announced an agreement to acquire Trench Group, a global leader in high-voltage grid equipment, for $9 billion. The acquisition is expected to close in late 2027.
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Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
