GE Vernova reports $176 billion backlog and strong growth

GE Vernova reported 88% organic order growth in the second quarter of 2026, bringing its total backlog to $176 billion. The company’s second-quarter revenue rose 22% to $11.1 billion, while adjusted EBITDA margins reached 11.3%.

Driven by demand from utilities and data centers, the company’s electrification segment saw year-to-date orders exceeding $5 billion, more than doubling its 2025 total. Management has raised its 2026 revenue guidance to a range of $45.5 billion to $46.5 billion and significantly increased its free cash flow target to between $11.5 billion and $12.5 billion.

In terms of institutional activity, N10 Wealth LLC increased its stake in the company by 27.3% during the third quarter. Other major investors, including BlackRock Inc., Bank of America Corp, and Auto Owners Insurance Co, have also recently established or expanded positions in the company.