GE Vernova Reports Revenue Beat Amid AI Power Demand Surge, Despite EPS Miss
GE Vernova reported a significant revenue beat for Q2 2026 with $11.1 billion in sales, up 22% year-over-year and exceeding expectations of $10.79 billion. The company's strong performance was driven by robust demand from AI data centers increasing power consumption across the U.S., which is expected to triple grid usage to 134.4 GW by 2030. Despite this, GE Vernova missed earnings estimates with adjusted EPS of $2.47 versus an expected $3.04, leading to a more than 7% drop in pre-market trading. The Wind segment was particularly underperforming, contributing to losses and operational challenges. However, the company's backlog surged to a record $176 billion due to strong order growth of 88%, signaling long-term potential. Management raised its full-year free cash flow forecast from $6.5–$7.5 billion to $11.5–$12.5 billion and highlighted the early phase of an extended power industry buildout.
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Topics: ai_demand data_centers grid_equipment renewable_energy