GE Vernova Q3 2026: revenue +27%, EPS $4.81, guidance raised
GE Vernova beat on every visible line: revenue rose 27.0% to $12.64 billion, gross margin jumped to 24.6%, and EPS of $4.81 cleared the $3.98 consensus. Management raised 2026 revenue, margin and free-cash-flow guidance in the same breath. The catch is the quality of growth — acquisitions and working capital did a lot of the work. Below we unpack the scorecard, the guidance math, the cash trail and the balance sheet.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $4.81 beat the $3.98 consensus by roughly $0.83, or 21.0%, against $1.64 a year ago. The cleaner read is adjusted EBITDA of $1.94 billion at a 15.4% margin, up 730 basis points — margin, not one-offs, did most of the work. Watch the year-to-date figure: the $24.81 of nine-month EPS includes a $3.99 billion pre-tax gain on remeasuring the old Prolec GE stake, so do not annualize it.
Revenue of $12.64 billion rose 27.0% from $9.97 billion a year ago, but only 18.0% was organic — acquisitions added $0.95 billion, mostly Prolec GE at Electrification. Gross margin climbed to 24.6% from 19.0%, so the extra sales dropped through at unusually high profitability. Power carried the quarter at $6.07 billion (+25%), Electrification grew 51.0% to $3.86 billion and Wind managed 4.0% to $2.74 billion.
Management raised 2026 revenue to $46.5–$47.5 billion from $45.5–$46.5 billion, adjusted EBITDA margin to 13.5%–14.5% from 12%–14%, and free cash flow to $16–$17 billion from $11.5–$12.5 billion. That is the third consecutive upward revision, with the mid-point moving from $45.00 billion to $46.00 billion to $47.00 billion. Reaching the mid-point implies about $13.92 billion of Q4 revenue, roughly $1.27 billion more than this quarter.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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