GE Vernova Raises 2026 Outlook With $20 Billion Buyback Plan

GE Vernova raised its 2026 revenue and free cash flow outlook Wednesday, pairing stronger forecasts with a $9 billion Trench Group acquisition and a $20 billion share repurchase plan.

The company now projects revenue of $46.5 billion to $47.5 billion and free cash flow of $16 billion to $17 billion. Management also raised its guidance for adjusted EBITDA margin.

Management pointed to growth in core operations and new products, demand for services, strong Power margins, and improved cash and operational productivity. New orders approached $30 billion as backlog expanded from $176 billion to about $200 billion.

GE Vernova expects Trench to strengthen component supply, expand Electrification capacity and support higher margins. Management expects Trench revenue to grow at a mid-teens rate. The acquisition faces regulatory and closing risks.

The outlook follows the company’s third-quarter report, which included $29 billion in orders and a $20 billion sequential backlog increase. GE Vernova’s Wind business also faces policy and demand uncertainty in the United States, along with permitting delays, tariff issues, integration challenges and execution risks.