GE Vernova CEO Sees Backlog Hitting $200B Early Next Year, Stock Rebounds
GEV sits 74% above its 52-week low of $530.16.
Summary
CEO Scott Strazik told a Morgan Stanley conference that the company's backlog, which ended Q2 at $176B, is on track to reach $200B 'very early' in 2027, sooner than Wall Street expected. He cited strong and durable demand, partly from growing high-margin service revenue. The stock jumped 4.6% on Wednesday, recovering from Monday's 8.5% drop after GLJ Research initiated with a Sell rating. Bernstein analyst Sunaina Ocalan reaffirmed a Buy rating, pointing to electrification demand beyond immediate AI data center needs. This follows the company's Q2 report in July, when it raised full-year revenue guidance to $45.5B-$46.5B and nearly doubled free cash flow guidance. The backlog projection adds a concrete near-term milestone that could support the stock if achieved.
At the time of this announcement, GEV was trading at $922.87 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $245.8B. The 52-week trading range was $530.16 to $1,195.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.