GE Vernova’s Q1 Electrifies Wall Street With Profit Transformation and Booming Backlog
Born out of last year’s General Electric spinoff saga, GE VernovaGEV has already matured into a Wall Street darling. The energy-maker posted a shocking Q1 performance as it converted last year’s $106M loss into a $264M profit — surging shares 3% higher yesterday amid the “electricity supercycle.”
- GEV’s $0.91 EPS doubled analyst expectations of $0.45 — while revenue jumped 11% from last year to $8.03B, surpassing Wall Street forecasts of $7.55B.
- Powered by a 3x and 1.47x annual profit increase in electrification and power segments, GE Veranova maintained its full-year guidance — despite facing $400M in potential tariff impacts and a 44% slump in offshore wind orders.
Powering the digital future: GE Vernova finds itself at the epicenter of an electricity gold rush, with data centers and AI driving unprecedented demand. As oil prices hit three-year lows, “the market knows they need more gas,” says CEO Scott Strazik of black gold’s by-product. As such, the company’s gas turbine backlog has swelled to 29GWs — enough to power 21.75M homes — with 21GWs of additional reservations. Scarface said you must get money before power, but, to his avail,GEV focused on gigawatt power for money.