GE Vernova's Q2: orders jump 88% but shares fall

Energy company GE Vernova reported its second-quarter 2026 results on Wednesday, 22 July 2026. Revenue rose 22 percent year on year to 11.1 billion dollars, net income was 668 million dollars, and diluted earnings were 2.47 dollars per share. New orders jumped 88 percent to 24.2 billion dollars and the backlog reached 176 billion dollars, driven in part by demand for power for AI data centers.

The company raised its 2026 revenue outlook to 45.5 to 46.5 billion dollars, but its shares fell more than 10 percent in premarket trading on margin pressure even as revenue and orders beat expectations. The surge in the company's power equipment orders is a gauge of booming global electricity demand during the data center build out.