GE Vernova Shares Drop as Earnings Miss Offsets Strong Revenue and Order Growth

GE Vernova Inc. (NYSE: GEV) shares fell around 4% in intra-day trading on Wednesday after the company reported third-quarter revenue that exceeded expectations but missed on earnings, despite strong order growth and a record backlog.

Revenue totaled $9.97 billion, beating analyst estimates of $9.16 billion and marking a 12% year-over-year increase. However, adjusted earnings per share were $1.64, below expectations of $1.86.

The company reaffirmed its 2025 full-year revenue outlook, expecting to reach the upper end of its $36–$37 billion range, slightly below the $37.15 billion consensus.

Orders surged 55% organically to $14.6 billion, led by robust equipment demand in the Power and Electrification segments. The backlog grew by $6.6 billion sequentially, with Gas Power equipment reservations increasing from 55 to 62 gigawatts.

By segment, Power orders rose 50% organically to $7.8 billion, with revenue up 15% to $4.8 billion. Wind orders increased 4% to $1.8 billion, though revenue fell 8% to $2.6 billion. The Electrification unit more than doubled orders to $5.1 billion, while revenue advanced 35% to $2.6 billion.