GE Vernova shares fall as wind losses overshadow record backlog and data center demand

Earnings Impact 4
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Summary · why it matters

GE Vernova shares dropped about 6.4% on Wednesday morning after the power equipment maker's wind segment losses widened even as the company posted stronger-than-expected quarterly revenue and record orders. The wind business reported revenue down 10% to $2.03 billion in the second quarter, with the segment's core loss widening to about $275 million on lower onshore equipment deliveries. Second-quarter revenue rose 22% year-over-year to $11.1 billion, topping analyst estimates of $10.7 billion, while orders climbed 88% organically to $24.2 billion, pushing the backlog up $13 billion from the prior quarter to $176 billion. Data center orders exceeded $5 billion so far this year, more than double the total for all of 2025. Earnings per share came in at $2.47, up 33% from a year earlier but below the $3.01 analysts had expected, and adjusted EBITDA was $1.2 billion for a margin of 11.3%. For the full year, GE Vernova guided revenue of $45.5 billion to $46.5 billion, above the $45.45 billion analyst estimate, with free cash flow of $11.5 billion to $12.5 billion and an adjusted EBITDA margin of 12% to 14%, while the wind segment is projected to post a roughly $400 million EBITDA loss for the year.

Impact on stocks 1

Energy Transition & Power Demand▼ · 1 stocks
GE Vernova LLC
GEV
▼ NegativeCapitalrelevance

Wind segment losses widened and EPS missed estimates, overshadowing strong revenue and orders.

Theme Impact 2

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