GE Vernova (GEV) Q3 2026 Earnings Call Transcript

GE Vernova shares fell despite beating earnings expectations, with Q3 revenue up 27% YoY to $12.64B and EPS up 193% to $4.81. The company raised its full-year outlook and announced a $9B acquisition of Trench Group. Investors may be concerned about slower order growth in 2027, but the company highlights strong demand and backlog growth.

Oppenheimer raised its price target on GE Vernova (NYSE:GEV) to $1,375 from $1,338, citing strong data center power infrastructure management and revenue growth. The company reported Q3 2026 earnings of $4.81 per share, exceeding estimates, and raised its full-year outlook. GEV's stock has returned 57% over the past year, with a market cap of $235.5 billion.

GE Vernova Inc. will acquire Trench Group for $9B, funded equally by cash and debt, to expand its high-voltage components portfolio. The deal is expected to close by late 2027. GE Vernova's stock fell 5.8% to $843.23. The company raised its full-year revenue outlook to $46.5B-$47.5B and reported a $20B increase in backlog to $197B.

GE Vernova agreed to acquire Trench Group from Triton Partners for $9 billion, advised by Skadden and Latham & Watkins. The deal, expected to close by late 2027, aims to expand GE Vernova's power grid equipment portfolio. Trench is a current supplier to GE Vernova.

BNP Paribas says GE Vernova (GEV) met Q3 expectations, raising gas turbine guidance to 130 GW. Slot conversions are now key, with 62 GW due by mid-2026. BNP maintains a Neutral rating and $1,090 target, citing rising construction costs and focus on conversion pace.

GE Vernova (GEV) is awaiting payment from Venezuela before starting power grid repairs, according to CEO Scott Strazik. The company has completed planning but not booked orders. GEV reported Q3 earnings beat and raised guidance, but shares fell. The agreement with Venezuela was signed in September.