GE Vernova Reports Oct. 28. Here’s the 1 Number That Matters More Than Its Multibillion-Dollar Backlog (Hint: It’s Measured in Gigawatts).
Based on GE Vernova (NYSE: GEV) management’s commentary at recent investor conferences, the company will likely report strong growth in orders and backlog when it releases its third-quarter results on Oct. 28. Those are important numbers to keep an eye on, but there’s another underlying metric that is almost as important, and investors should keep an eye out for it because it’s been very bullish for the company in recent quarters.
GE Vernova’s backlog stood at $176 billion at the end of the second quarter, but CEO Scott Strazik said he thinks it will hit $200 billion “very early” in 2027, based on strong third-quarter orders. That’s an impressive number, but it only tells part of the story.
GE Vernova operates in three segments. The loss-making wind segment is working through unprofitable offshore wind contracts and focusing on margin improvement as it returns to profitability. The electrification segment continues to grow strongly, driven by the need to build and maintain the grid and support growth from AI data centers and the electrification-of-everything megatrend.
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