Energy transition company GE Vernova (NYSE: GEV) reported Q2 CY2026 results topping the market’s revenue expectations, with sales up 21.9% year on year to $11.1 billion. The company’s full-year revenue guidance of $46 billion at the midpoint came in 1.1% above analysts’ estimates. Its GAAP profit of $2.47 per share was 22.4% below analysts’ consensus estimates.
Is now the time to buy GE Vernova? Find out by accessing our full research report, it’s free.
GE Vernova (GEV) Q2 CY2026 Highlights:
- Revenue: $11.1 billion vs analyst estimates of $10.8 billion (21.9% year-on-year growth, 2.8% beat)
- EPS (GAAP): $2.47 vs analyst expectations of $3.18 (22.4% miss)
- Adjusted EBITDA: $1.25 billion vs analyst estimates of $1.28 billion (11.3% margin, 2.1% miss)
- Free Cash Flow Margin: 46%, up from 2.1% in the same quarter last year
- Market Capitalization: $289.9 billion
Company Overview
Born from the energy business of industrial giant General Electric in a 2023 spin-off, GE Vernova (NYSE: GEV) designs, manufactures, and services power generation equipment and grid technologies to help customers build more reliable and sustainable electric systems.
Revenue Growth
Examining a company’s long-term performance can provide clues about its quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. Regrettably, GE Vernova’s sales grew at a tepid 5.4% compounded annual growth rate over the last five years. This wasn’t a great result compared to the rest of the industrials sector, but there are still things to like about GE Vernova.
Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. GE Vernova’s annualized revenue growth of 10.7% over the last two years is above its five-year trend, suggesting its demand recently accelerated. 
This quarter, GE Vernova reported robust year-on-year revenue growth of 21.9%, and its $11.1 billion of revenue topped Wall Street estimates by 2.8%.
Looking ahead, sell-side analysts expect revenue to grow 18.8% over the next 12 months, an improvement versus the last two years. This projection is eye-popping for a company of its scale and implies its newer products and services will catalyze better top-line performance.
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
Operating Margin
Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development.
GE Vernova’s high expenses have contributed to an average operating margin of negative 1.2% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out.
On the plus side, GE Vernova’s operating margin rose by 12.7 percentage points over the last five years, as its sales growth gave it operating leverage. Still, it will take much more for the company to reach long-term profitability.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
GE Vernova’s full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it’s at an inflection point.
Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business.
GE Vernova’s EPS grew at an astounding 186% compounded annual growth rate over the last two years, higher than its 10.7% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.
Diving into GE Vernova’s quality of earnings can give us a better understanding of its performance. A two-year view shows that GE Vernova has repurchased its stock, shrinking its share count by 5.5%. This tells us its EPS outperformed its revenue not because of increased operational efficiency but financial engineering, as buybacks boost per share earnings. 
In Q2, GE Vernova reported EPS of $2.47, up from $1.86 in the same quarter last year. Despite growing year on year, this print missed analysts’ estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects GE Vernova’s full-year EPS to shrink by 39.8% from $34.93 to $21.01.
Key Takeaways from GE Vernova’s Q2 Results
We enjoyed seeing GE Vernova beat analysts’ revenue expectations this quarter. We were also glad its full-year revenue guidance slightly exceeded Wall Street’s estimates. On the other hand, its EPS missed and its EBITDA fell short of Wall Street’s estimates. Overall, this was a softer quarter. The stock remained flat at $1,080 immediately following the results.
So do we think GE Vernova is an attractive buy at the current price? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here (it’s free).
