GE Vernova raises 2026 revenue and free cash flow guidance on strong Q2 results

1. Free cash flow guidance raised to $11.5–$12.5 billion from $6.5–$7.5 billion for full year 2026
2. Revenue guidance raised to $45.5–$46.5 billion from $44.5–$45.5 billion for full year 2026
3. Q2 2026 backlog grew $13.0 billion sequentially; total backlog reached $176 billion
4. Gas Power equipment backlog and slot reservation agreements grew from 100 to 116 GW; company anticipates reaching at least 125 GW by year-end 2026
5. Q2 2026 orders of $24.2 billion, +88% organically
6. Q2 2026 revenue of $11.1 billion; adjusted organic EBITDA margin of 11.2%, +340 basis points
7. Year-to-date share repurchases of 4.3 million shares for average price of $854
8. Cash balance of $13.1 billion at quarter-end; $3.9 billion in capital returned to shareholders year-to-date
9. Power segment organic revenue growth of 14%; Electrification organic revenue growth of 29%
10. Wind segment orders down 40% organically; segment EBITDA loss of $(275) million in Q2

The raised guidance reflects strong momentum in Power and Electrification driven by energy transition demand, particularly in gas power equipment and grid modernization, while Wind faces headwinds from soft prior-year orders; the sharply elevated free cash flow guidance signals improved working capital management and operational efficiency.