GE Vernova Lifts Outlook on Accelerating Power, Electrification Demand

Published: 2026-04-22 07:35:20 ET GEV

Published on 04/22/2026 at 07:35 am EDT

By Connor Hart

GE Vernova raised its outlook for the year and logged higher profit and revenue in the first quarter, boosted by accelerating demand for its power and electrification solutions.

The energy company, formed from the breakup of General Electric, on Wednesday said it now expects revenue of $44.5 billion to $45.5 billion in 2026, up from a prior outlook of $44 billion to $45 billion.

Chief Financial Officer Ken Parks attributed the higher outlook in part to robust equipment-orders growth in each of GE Vernova's business units during the recent quarter, as well as continued services strength. The company is also benefiting from its acquisition of Prolec GE.

In the first quarter, GE Vernova posted a profit of $4.75 billion, or $17.44 a share, compared with $264 million, or 91 cents a share, a year earlier. Analysts polled by FactSet had expected earnings of $1.95 a share.

The company noted the latest quarter included a $3.99 billion pre-tax gain related to the Prolec GE acquisition.

Quarterly revenue climbed 16% to $9.34 billion, ahead of Wall Street models for $9.25 billion.

The Cambridge, Mass., company's power unit reported revenue of $4.97 billion, up 12% from last year, while its electrification arm notched revenue of $2.96 billion, a 61% jump. The gains were partially offset by its wind business, where revenue fell 23% to $1.43 billion.

Shares rose 4.1%, to $1,032.23, in premarket trading.

Write to Connor Hart at [email protected]

(END) Dow Jones Newswires

04-22-26 0734ET