GE Vernova Posts $4.81 Q3 GAAP EPS as Revenue Rises 26.8%

GE Vernova posted third-quarter GAAP earnings of $4.81 per share and $12.64 billion in revenue, topping estimates as orders nearly doubled organically and backlog expanded.

Earnings were 80 cents per share above estimates. Revenue rose 26.8% from a year earlier and exceeded estimates by $640 million.

Orders totaled $29 billion, an organic increase of 96%. Equipment at Power led the growth, while services remained strong. Backlog increased $20 billion from the previous quarter.

Before the report, portfolio director Jeff Marks said he wanted continued strong orders and pricing for heavy-duty gas turbines, along with strong performance in the electrical business, in his pre-earnings comments.