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GE Vernova (GEV) investor relations material
GE Vernova Investor Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor Update summary9 Dec, 2025
Key Financial Outlook and Growth Drivers
Revenue projected to reach $52 billion by 2028, with a 20% adjusted EBITDA margin and at least $22 billion cumulative free cash flow from 2025–2028, after $10 billion in P&E and R&D investments.
Backlog expected to grow from $135 billion to $200 billion by 2028, with Electrification and Gas services as major contributors and Electrification backlog doubling to $60 billion.
Power and Electrification segments targeted for high-teens revenue growth and 22% EBITDA margins by 2028, while Wind segment faces revenue decline and 6% margin.
Free cash flow guidance for 2025 raised to $3.5–$4 billion, with 2026 revenue guidance at $41–$42 billion and 11%–13% EBITDA margins.
Capital allocation includes increased buyback authorization to $10 billion, doubled dividend to $2/share, and $16 billion available for deployment after organic investments.
Market Trends and Demand Outlook
Electricity demand is projected to double by 2050, driven by AI, industrialization, and electrification of buildings and transportation.
Electricity will account for over 50% of global energy investment in 2025, with hyperscalers and governments fueling demand.
The company is positioned to serve this long-cycle, high-growth market with advanced solutions across power generation, grid resilience, and automation.
Accelerating demand is supported by strong contract wins in Gas Power and Electrification, with significant orders from data centers and infrastructure projects.
Equipment backlog nearly doubled to $54 billion by 3Q'25, supporting future growth.
Operational Execution and Productivity Initiatives
Gas Power secured 18 GW of new contracts in Q4, with annualized output targeted at 20 GW by Q3 2026 and 24 GW by 2028.
Electrification backlog quadrupled since 2022, now at $26 billion, with strong orders in Europe, North America, Middle East, and Asia.
Lean manufacturing, automation, and AI are driving cost reductions and productivity, with a $600 million G&A cost reduction target by 2028.
Sourcing initiatives have reduced direct spend costs by 13%, with savings to be realized in 2026–2027.
Offshore Wind projects progressing, with Vineyard and Dogger Bank A to be materially complete by year-end and EBITDA losses expected to reduce.
Gas capacity investments beyond 2028
Electrification capacity gap vs. demand
Wind orders inflection drivers
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Next GE Vernova earnings date
Q4 202523 Jan, 2026
Next GE Vernova earnings date
Q4 202523 Jan, 2026
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Frequently asked questions
GE Vernova Inc., formerly part of General Electric, is a global energy company specializing in the generation, transmission, and use of electric power. The company operates through three main segments: Power, Wind, and Electrification. GE Vernova is involved in the manufacturing and servicing of equipment for hydro, gas, nuclear, and steam power generation, as well as the production of wind turbines. Additionally, it offers solutions in power conversion and energy storage to support the transition to sustainable energy. GE Vernova is headquartered in Cambridge, Massachusetts, and its shares are listed on the New York Stock Exchange.
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