Key facts
- GE Vernova raised its 2026 revenue forecast to $45.5 billion-$46.5 billion.
- The company's wind business posted deeper losses due to weak project economics and rising costs.
- Second-quarter revenue rose 22% year-over-year to $11.1 billion.
- Orders surged 88% to a record $24.2 billion, with power orders more than doubling.
- Data center orders have exceeded $5 billion this year.
- GE Vernova expects global tariffs to increase costs by $100 million to $200 million in 2026.
GE Vernova raised its full-year revenue forecast, projecting $45.5 billion to $46.5 billion in 2026 revenue, driven by robust demand for its power generation and grid equipment, particularly for AI-driven electricity infrastructure. The company reported a 22% year-over-year increase in second-quarter revenue to $11.1 billion, with orders surging 88% to a record $24.2 billion, boosting its backlog to $176 billion. Power orders more than doubled, fueled by utilities and data center developers securing electricity supplies, with data center orders alone exceeding $5 billion this year. However, the company's wind business experienced a 10% revenue decline to $2.03 billion, with adjusted EBITDA losses widening to approximately $275 million due to persistent project headwinds and rising costs. GE Vernova now anticipates its wind division will lose about $400 million this year. The company also flagged that global tariffs are expected to increase costs by $100 million to $200 million in 2026.