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GE Vernova reported third-quarter financial results on 28 October, with revenue of US$12.6 billion, up 27% on a reported basis and 18% organically. Net income was US$1.3 billion. Adjusted EBITDA reached US$1.9 billion, a separate non-GAAP measure, as the company reported stronger demand for power and electrification equipment.
Total backlog reached US$197 billion after increasing US$20 billion from the preceding quarter. Gas Power equipment backlog and slot-reservation agreements increased from 116 to 122 gigawatts. That figure combines contractual equipment backlog and reserved manufacturing slots; it is not installed or commissioned generating capacity.
Cash from operating activities was US$6.1 billion and free cash flow was US$5.4 billion. The company ended the quarter with US$16.8 billion of cash. Management expects at least 130 gigawatts of gas-equipment backlog and reservations by year-end, making that later figure an outlook rather than the quarter-end result.
GE Vernova raised its annual revenue guidance to US$46.5–47.5 billion, adjusted EBITDA margin guidance to 13.5–14.5%, and free-cash-flow guidance to US$16–17 billion. The update links present order growth with future manufacturing and delivery requirements; backlog conversion and the full-year financial targets remain dependent on execution.