Analyst Consensus ?
ConsensusBuy29 ratings
Bullish2275.9%
Neutral724.1%
Bearish00.0%
GE Vernova Inc. · GEV · FY2026 Q3 · Calendar Q4 2026
GE Vernova raises 2026 outlook as orders and margins accelerate
The current analysis supports a constructive operating trajectory: robust orders, continued margin expansion and higher 2026 guidance reinforce demand across power and electrification. The investment case still depends on executing capacity expansion, integrating acquisitions and converting reservations into firm orders.
Reported Before market openNYSEIndustrials
$238.39B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $4.03
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $11.99B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.4%
Event window
SPY move
+0.3%
Same window
Abnormal move
-1.7%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
GEVSPY benchmark
Ask FN2 about GEV FY2026 Q3
Transcript, numbers and history already loaded
What drove GEV's -1.4% move after FY2026 Q3 earnings?What changed in GEV's guidance and outlook in FY2026 Q3?Give me the bull and bear case for GEV after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, GE Vernova reported stronger Q3 operating momentum, raised full-year 2026 revenue, EBITDA-margin and free-cash-flow guidance, announced the planned Trench Group acquisition, and doubled its buyback authorization. The analysis also identifies a 5-gigawatt quarterly gas-turbine production run rate as a new operating milestone.
Guidance delta
Raised. Full-year 2026 guidance now calls for $46.5-$47.5 billion of revenue, a 13.5%-14.5% EBITDA margin and $16-$17 billion of free cash flow.
Key takeaways
- Q3 orders increased 96% year over year, while adjusted EBITDA increased 123% and free cash flow was $5.4 billion.
- Management highlighted margin expansion across Power, Electrification and Wind, including Power EBITDA margin above 21%.
- The planned $9 billion Trench acquisition is intended to strengthen high-voltage electrification and is expected to close in late 2027, subject to regulatory approvals.
- The $20 billion buyback program was doubled, with $9.9 billion repurchased to date.
Management priorities
- Expand capacity and invest in AI, robotics, automation, capex and R&D for gas turbines, HVDC and offshore wind.
- Integrate Prolec and pursue the Trench acquisition while building high-voltage manufacturing capabilities.
- Advance SMR nuclear, MV-UPS and solid-state transformer offerings.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$888.69Current
$160Low
$853.89Average
$1,450High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Susquehanna | Positive | Positive | Maintain | Oct 14, 2026 |
| Guggenheim | Buy | Buy | Maintain | Oct 13, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 9, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Sep 15, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 27, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 23, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 23, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 23, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Jefferies | Buy | Buy | Maintain | Jun 11, 2026 |
| BNP Paribas | Neutral | Outperform | Downgrade | Apr 27, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 23, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Apr 23, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 23, 2026 |
| Baird | Outperform | Outperform | Maintain | Apr 23, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Apr 13, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Mar 31, 2026 |
| Rothschild & Co | Buy | Sell | Upgrade | Mar 9, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 29, 2026 |
| GLJ Research | Buy | Buy | Maintain | Jan 12, 2026 |
| Seaport Global | Neutral | Buy | Downgrade | Dec 11, 2025 |
| UBS | Buy | Buy | Maintain | Dec 10, 2025 |
| B of A Securities | Buy | Buy | Maintain | Dec 10, 2025 |
| Melius Research | Buy | Hold | Upgrade | Sep 15, 2025 |
| HSBC | Hold | Hold | Maintain | Sep 5, 2025 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Jun 13, 2025 |
| Truist Securities | Buy | Buy | Maintain | Jan 23, 2025 |
| Daiwa Capital | Buy | Outperform | Maintain | Oct 30, 2024 |
| Raymond James | Market Perform | Outperform | Downgrade | Oct 2, 2024 |
Named analyst price targets
Upside is calculated against the persisted current price $888.69. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Susquehanna | Analyst unavailable | $1,270 | $1,004.04 | +42.9% | Oct 14, 2026 |
| Evercore ISI | Alex Virgo | $1,350 | $950.49 | +51.9% | Oct 1, 2026 |
| Jefferies | Analyst unavailable | $1,185 | $953.2 | +33.3% | Sep 11, 2026 |
| Mizuho Securities | Maheep Mandloi | $949 | $1,020.52 | +6.8% | Jul 24, 2026 |
| RBC Capital | Analyst unavailable | $1,225 | $1,002.04 | +37.8% | Jul 23, 2026 |
| Oppenheimer | Analyst unavailable | $1,338 | $1,020.58 | +50.6% | Jul 23, 2026 |
| Guggenheim | Joseph Osha | $1,450 | $985.03 | +63.2% | Jul 23, 2026 |
| Bernstein | Sunaina Ocalan | $1,298 | $985.03 | +46.1% | Jul 23, 2026 |
| Bernstein | Sunaina Ocalan | $1,206 | $982.35 | +35.7% | Jun 16, 2026 |
| Bernstein | Sunaina Ocalan | $1,208 | $982.35 | +35.9% | Jun 16, 2026 |
| Jefferies | Julian Dumoulin-Smith | $1,210 | $901.02 | +36.2% | Jun 11, 2026 |
| Argus Research | John Eade | $1,300 | $1,107 | +46.3% | Apr 27, 2026 |
| BNP Paribas | Analyst unavailable | $1,190 | $1,149.19 | +33.9% | Apr 27, 2026 |
| Goldman Sachs | Analyst unavailable | $1,328 | $1,149.53 | +49.4% | Apr 24, 2026 |
| Jefferies | Julien Dumoulin-Smith | $1,350 | $1,149.53 | +51.9% | Apr 24, 2026 |
| Oppenheimer | Analyst unavailable | $1,303 | $1,150.74 | +46.6% | Apr 23, 2026 |
| RBC Capital | Analyst unavailable | $1,195 | $1,153.57 | +34.5% | Apr 23, 2026 |
| BMO Capital | Analyst unavailable | $1,250 | $1,127.56 | +40.7% | Apr 23, 2026 |
| Susquehanna | Analyst unavailable | $1,300 | $1,127.56 | +46.3% | Apr 23, 2026 |
| Guggenheim | Joseph Osha | $1,300 | $1,127.56 | +46.3% | Apr 23, 2026 |
| Robert W. Baird | Ben Kallo | $1,400 | $1,127.56 | +57.5% | Apr 23, 2026 |
| Barclays | Julian Mitchell | $1,250 | $1,127.56 | +40.7% | Apr 23, 2026 |
| Oppenheimer | Colin Rusch | $1,139 | $982.74 | +28.2% | Apr 16, 2026 |
| Susquehanna | Charles Minervino | $1,080 | $968.02 | +21.5% | Apr 9, 2026 |
| Redburn Partners | Analyst unavailable | $1,100 | $830.1 | +23.8% | Mar 9, 2026 |
| Robert W. Baird | Ben Kallo | $923 | $780.25 | +3.9% | Feb 4, 2026 |
| Mizuho Securities | Analyst unavailable | $714 | $754.97 | -19.7% | Feb 3, 2026 |
| Barclays | Analyst unavailable | $849 | $726.37 | -4.5% | Feb 2, 2026 |
| RBC Capital | Analyst unavailable | $800 | $717.39 | -10.0% | Jan 30, 2026 |
| Guggenheim | Analyst unavailable | $910 | $717.39 | +2.4% | Jan 30, 2026 |
| UBS | Analyst unavailable | $936 | $694.64 | +5.3% | Jan 29, 2026 |
| UBS | Analyst unavailable | $871 | $708.31 | -2.0% | Jan 29, 2026 |
| Evercore ISI | Alexander Virgo | $905 | $707.73 | +1.8% | Jan 29, 2026 |
| Robert W. Baird | Analyst unavailable | $701 | $711.59 | -21.1% | Jan 29, 2026 |
| BMO Capital | Analyst unavailable | $785 | $711.59 | -11.7% | Jan 29, 2026 |
| Susquehanna | Analyst unavailable | $820 | $711.59 | -7.7% | Jan 29, 2026 |
| Jefferies | Julian Dumoulin-Smith | $930 | $688.5 | +4.6% | Jan 29, 2026 |
| Goldman Sachs | Analyst unavailable | $925 | $711.59 | +4.1% | Jan 29, 2026 |
| Morgan Stanley | David Arcaro | $817 | $657.78 | -8.1% | Jan 26, 2026 |
| GLJ Research | Austin Wang | $1,087 | $622.5 | +22.3% | Jan 12, 2026 |
| Robert W. Baird | Ben Kallo | $649 | $628.4 | -27.0% | Jan 9, 2026 |
| Barclays | Analyst unavailable | $830 | $686.33 | -6.6% | Jan 7, 2026 |
| Jefferies | Julien Dumoulin-Smith | $830 | $658.28 | -6.6% | Dec 22, 2025 |
| Robert W. Baird | Analyst unavailable | $816 | $650.82 | -8.2% | Dec 18, 2025 |
| Jefferies | Analyst unavailable | $815 | $614.19 | -8.3% | Dec 18, 2025 |
| Goldman Sachs | Joe Ritchie | $840 | $681.35 | -5.5% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $822 | $681.35 | -7.5% | Dec 16, 2025 |
| Wells Fargo | Michael Blum | $831 | $681.35 | -6.5% | Dec 16, 2025 |
| Evercore ISI | Alexander Virgo | $860 | $672.56 | -3.2% | Dec 15, 2025 |
| Seaport Global | Tom Curran | $723 | $690.15 | -18.6% | Dec 11, 2025 |
| UBS | Amit Mehrotra | $835 | $713.78 | -6.0% | Dec 10, 2025 |
| Susquehanna | Charles Minervino | $775 | $625.3 | -12.8% | Dec 10, 2025 |
| BMO Capital | Ameet Thakkar | $780 | $625.3 | -12.2% | Dec 10, 2025 |
| RBC Capital | Christopher Dendrinos | $761 | $625.3 | -14.4% | Dec 10, 2025 |
| Oppenheimer | Colin Rusch | $855 | $625.3 | -3.8% | Dec 10, 2025 |
| Barclays | Julian Mitchell | $720 | $601.97 | -19.0% | Dec 4, 2025 |
| Morgan Stanley | Analyst unavailable | $710 | $577.97 | -20.1% | Oct 30, 2025 |
| Jefferies | Julian Dumoulin-Smith | $654 | $585.34 | -26.4% | Oct 27, 2025 |
| Mizuho Securities | Analyst unavailable | $660 | $609.65 | -25.7% | Oct 24, 2025 |
| RBC Capital | Christopher Dendrinos | $630 | $586.85 | -29.1% | Oct 23, 2025 |
| BMO Capital | Analyst unavailable | $710 | $576 | -20.1% | Oct 23, 2025 |
| Susquehanna | Analyst unavailable | $750 | $576 | -15.6% | Oct 23, 2025 |
| UBS | Analyst unavailable | $710 | $592.21 | -20.1% | Oct 23, 2025 |
| Morgan Stanley | Analyst unavailable | $690 | $615.95 | -22.4% | Oct 16, 2025 |
| GLJ Research | Analyst unavailable | $758 | $658.98 | -14.7% | Oct 15, 2025 |
| Mizuho Securities | Maheep Mandloi | $677 | $644.41 | -23.8% | Oct 15, 2025 |
| Redburn Partners | Analyst unavailable | $475 | $644.41 | -46.6% | Oct 15, 2025 |
| Susquehanna | Charles Minervino | $740 | $628.36 | -16.7% | Oct 13, 2025 |
| RBC Capital | Analyst unavailable | $605 | $614.9 | -31.9% | Oct 1, 2025 |
| Melius Research | Analyst unavailable | $740 | $625.55 | -16.7% | Sep 15, 2025 |
| Seaport Global | Tom Curran | $630 | $540.07 | -29.1% | Jul 10, 2025 |
| UBS | Amit Mehrotra | $614 | $517.04 | -30.9% | Jul 7, 2025 |
| Susquehanna | Charles Minervino | $370 | $330.8 | -58.4% | Apr 2, 2025 |
| Truist Financial | Analyst unavailable | $440 | $303 | -50.5% | Mar 27, 2025 |
| RBC Capital | Analyst unavailable | $445 | $317.06 | -49.9% | Mar 18, 2025 |
| New Street | Analyst unavailable | $380 | $316.8 | -57.2% | Mar 5, 2025 |
| Guggenheim | Analyst unavailable | $380 | $316.8 | -57.2% | Mar 5, 2025 |
| BMO Capital | Analyst unavailable | $420 | $315.98 | -52.7% | Mar 3, 2025 |
| Guggenheim | Joseph Osha | $400 | $351.46 | -55.0% | Dec 5, 2024 |
| Mizuho Securities | Maheep Mandloi | $351 | $343.57 | -60.5% | Dec 2, 2024 |
| J.P. Morgan | Mark Strouse | $330 | $295.9 | -62.9% | Oct 24, 2024 |
| RBC Capital | Christopher Dendrinos | $285 | $279.88 | -67.9% | Oct 24, 2024 |
| Goldman Sachs | Joe Ritchie | $324 | $279.88 | -63.5% | Oct 24, 2024 |
| Jefferies | Andrew Tsai | $165 | $274.85 | -81.4% | Oct 21, 2024 |
| Deutsche Bank | Nicole DeBlase | $354 | $272.72 | -60.2% | Oct 21, 2024 |
| RBC Capital | Christopher Dendrinos | $262 | $272 | -70.5% | Oct 18, 2024 |
| Jefferies | Julian Dumoulin-Smith | $336 | $272 | -62.2% | Oct 17, 2024 |
| HSBC | Sean McLoughlin | $255 | $261.61 | -71.3% | Oct 4, 2024 |
| Truist Financial | Jordan Levy | $300 | $255.05 | -66.2% | Sep 26, 2024 |
| Jefferies | Julien Dumoulin-Smith | $293 | $247.39 | -67.0% | Sep 20, 2024 |
| Bank of America Securities | Andrew Obin | $300 | $229.93 | -66.2% | Sep 17, 2024 |
| Mizuho Securities | Maheep Mandloi | $241 | $225.59 | -72.9% | Sep 16, 2024 |
| Barclays | Julian Mitchell | $250 | $225.59 | -71.9% | Sep 16, 2024 |
| Morgan Stanley | Andrew Percoco | $256 | $215.27 | -71.2% | Sep 13, 2024 |
| BMO Capital | Ameet Thakkar | $245 | $215.27 | -72.4% | Sep 13, 2024 |
| Goldman Sachs | Joe Ritchie | $220 | $214.58 | -75.2% | Sep 12, 2024 |
| Jefferies | Julien Dumoulin-Smith | $261 | $192.55 | -70.6% | Sep 3, 2024 |
| HSBC | Sean McLoughlin | $215 | $178.24 | -75.8% | Aug 12, 2024 |
| Morgan Stanley | Andrew Percoco | $220 | $174.03 | -75.2% | Aug 1, 2024 |
| Mizuho Securities | Maheep Mandloi | $208 | $160 | -76.6% | Jul 26, 2024 |
| Daiwa | Dennis Ip | $201.5 | $177.18 | -77.3% | Jun 21, 2024 |
| Argus Research | John Eade | $190 | $177.52 | -78.6% | Jun 13, 2024 |
| RBC Capital | Christopher Dendrinos | $180 | $177.32 | -79.7% | May 30, 2024 |
| Morgan Stanley | Andrew Percoco | $167 | $163.85 | -81.2% | May 23, 2024 |
| Mizuho Securities | Maheep Mandloi | $164 | $151.91 | -81.5% | May 1, 2024 |
| Evercore ISI | James West | $174 | $134.75 | -80.4% | Apr 17, 2024 |
| Raymond James | Patel Molchanov | $160 | $130.07 | -82.0% | Apr 16, 2024 |
| Goldman Sachs | Joe Ritchie | $154 | $131.75 | -82.7% | Apr 16, 2024 |
| Mizuho Securities | Maheep Mandloi | $154 | $134 | -82.7% | Apr 15, 2024 |
| RBC Capital | Christopher Dendrinos | $160 | $140 | -82.0% | Apr 1, 2024 |
Track every rating change on GEV the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationGE Vernova Inc. is an energy enterprise primarily engaged in generating electricity. Its business activities are categorized into three main divisions: Power, Wind, and Electrification. The Power segment is responsible for producing and distributing electricity from various sources, including hydroelectric, natural gas, nuclear, and steam power. The Wind division concentrates on the fabrication and sale of wind turbine blades. Meanwhile, the Electrification segment offers an array of services such as grid infrastructure solutions, power conversion technologies, and both solar and energy storage systems. The company was established in 2023 and has its headquarters situated in Cambridge, Massachusetts.
Historical context
All GEV earningsIndustrials peers this season
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Latest beats and misses
Who reports nextBeat on EPS
- HLTFY2026 Q3 · October 27, 2026+3.4% EPS-2.1% move
- SPGIFY2026 Q3 · October 27, 2026+3.4% EPS-0.4% move
- PYPLFY2026 Q3 · October 27, 2026+10.7% EPS+2.0% move
- CMSAFY2026 Q3 · October 27, 2026+6.7% EPS0.0% move
- ITWFY2026 Q3 · October 27, 2026+2.4% EPS-0.1% move
- IQVFY2026 Q3 · October 27, 2026+2.5% EPS-0.7% move
Missed on EPS
- WMFY2026 Q3 · October 27, 2026-1.4% EPS-3.2% move
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
Get the GEV recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-28T17:05:14.001664+00:00
- FN2 earnings calendar · 2026-10-28T01:23:13.546025+00:00
- Polygon adjusted daily market bars · 2026-10-28T17:20:42.722570+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-28T17:20:42.719850+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.