GE Vernova Beats Q3, Raises 2026 Guidance and Doubles Buyback to $20B
GEV sits 72% above its 52-week low of $530.16.
Summary
GE Vernova beat on Q3 with $12.6B revenue (+27%), $29.3B orders (+96% organic) and $5.4B free cash flow, raised 2026 guidance, and doubled its share repurchase authorization to $20B.
Key Events · Earnings and Guidance · GEV
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Q3 Beat With Orders Nearly Doubling
Revenue of $12.6B rose 27% (+18% organic) and orders of $29.3B jumped 96% organically, led by Power equipment; net income was $1.3B and adjusted EBITDA $1.9B at a 15.4% margin.
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2026 Guidance Raised Across the Board
Revenue guidance moves to $46.5-$47.5B from $45.5-$46.5B, adjusted EBITDA margin to 13.5%-14.5% from 12%-14%, and free cash flow to $16-$17B from $11.5-$12.5B.
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Buyback Authorization Doubled to $20B
The Board raised the repurchase authorization to $20B from $10B in October 2026, with $10.1B remaining; the company has bought back 15.6M shares for $9.9B since December 2024.
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Backlog Climbs to $197B
Backlog grew $20B sequentially to $197B, and management expects it to exceed $200B in Q4 with at least 130 GW of gas equipment under contract by year-end 2026.
Analysis · GEV · Manufacturing
GE Vernova delivered a quarter well ahead of the trajectory it set three months ago: orders nearly doubled to $29.3B, revenue rose 27% to $12.6B, and free cash flow of $5.4B in the quarter alone dwarfed the $11.5-$12.5B full-year target management had been guiding to. Management raised revenue, margin and free cash flow guidance and lifted the buyback authorization to $20B from $10B, with $10.1B still available. The $9B Trench Group acquisition announced this morning is the other half of the story: it scales the Electrification segment's high-voltage grid business, but closing is not expected until late 2027 and remains subject to regulatory approvals.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 36.5% of the 953 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, GEV was trading at $914.28 on NYSE in the Manufacturing sector, with a market capitalization of approximately $238.4B. The 52-week trading range was $530.16 to $1,195.94. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.