GE Vernova Inc. (GEV) Announced Q1 2026 Earnings on April 22, 2026, Reporting "Adjusted EBITDA grew 87% year-over-year to $896 million".

In the first quarter of 2026, GE Vernova Inc. booked orders of $18.3 billion, representing a 71% increase year-over-year.

Revenue increased 7% with growth in both equipment and services.

Adjusted EBITDA grew 87% year-over-year to $896 million, and the adjusted EBITDA margin expanded 390 basis points.

The company generated $4.8 billion in free cash flow in the first quarter.

Management highlighted that the company's total backlog expanded to $163 billion. GE Vernova completed the acquisition of the remaining 50% ownership stake of Prolec for $5.3 billion, adding new factory capacity and expanding its offerings in transformers.

The company is also deploying artificial intelligence to automate the matching of installed base demand and streamline manual sourcing processes, which management expects will save tens of millions of dollars every year going forward.

For the full year of 2026, GE Vernova raised its revenue guidance to a range of $44.5 billion to $45.5 billion.

The company increased its 2026 free cash flow guidance to between $6.5 billion and $7.5 billion.

Management also raised the full year adjusted EBITDA margin expectation to 12% to 14%.

Second quarter 2026 expectations include positive free cash flow and electrification segment revenues between $3.3 billion and $3.5 billion.

The company experienced significant demand from data centers, which accounted for approximately $2.4 billion in first quarter electrification orders. GE Vernova closed its first energy management system order to complement substation equipment for a data center customer in the first quarter. In the nuclear sector, management highlighted a U.S. and Japanese government announcement of up to $40 billion for GE Vernova Hitachi to build small modular reactors in the U.S..