GE Vernova Raises Guidance, Boosts 2026 Revenue

GE Vernova raised its guidance on July 22 after strong order growth tied to AI data-center power demand lifted backlog, prompting the company to reaffirm elevated margin and cash-flow expectations ahead of its second-quarter report.

Revenue Guidance and Margins

The company increased its full-year 2026 revenue forecast to $45.5 billion–$46.5 billion, marking a second consecutive annual raise. This reflects stronger order flows across its businesses. Management reaffirmed its elevated margin and cash-flow targets. Earlier in the year, it had raised revenue guidance to $44.5 billion–$45.5 billion and set adjusted EBITDA margin at 12%–14% and free cash flow at $6.5 billion–$7.5 billion. Management said, "For the full year, we're raising our guidance based on the strong 1Q results and the continued momentum we see in our business." [source:3]

Orders, Backlog, and AI Demand

In the first quarter, bookings reached about $7.1 billion, up 86% year over year. Orders ran at roughly 2.5 times revenue, bolstering the company’s backlog. Executives noted continued momentum in the Power and Electrification units, with backlog demand partly driven by data-center development. This dynamic has fueled order growth in those segments.

The raised guidance and a backlog supported by large orders linked to rising electricity demand underpin the company’s sustained margin and free-cash-flow outlook. This keeps investor focus on Electrification and grid-related exposure in the near term.