GE Vernova announced the acquisition of the remaining 50% of Prolec GE for $5.275B, a deal immediately accretive to EBITDA. The company reported a strong Q3 with record orders ($14.6B, +55%), backlog expansion to $135B, and double-digit revenue growth. Guidance for FY2025 was reaffirmed, and electrification revenue guidance was raised to ~25% growth. Gas turbine demand continues to surge, with 62 GW of commitments and pricing improving. Management struck a confident tone on long-term demand and margin expansion. Acquisition of Prolec GE (remaining 50%) for $5.275B; expected to close mid-2026, funded 50/50 cash/debt; Prolec generates $3B revenue at 25% EBITDA margins and has $4B backlog.
GE Vernova announced the acquisition of the remaining 50% of Prolec GE for $5.275B, a deal immediately accretive to EBITDA. The company reported a strong Q3 with record orders ($14.6B, +55%), backlog expansion to $135B, and double-digit revenue growth. Guidance for FY2025 was reaffirmed, and electrification revenue guidance was raised to ~25% growth. Gas turbine demand continues to surge, with 62 GW of commitments and pricing improving. Management struck a confident tone on long-term demand and margin expansion. Acquisition of Prolec GE (remaining 50%) for $5.275B; expected to close mid-2026, funded 50/50 cash/debt; Prolec generates $3B revenue at 25% EBITDA margins and has $4B backlog.
Management expressed strong confidence in demand, pricing, and the Prolec acquisition, describing the company as 'right company for this moment' and 'excited' about future opportunities.
Acquisition of Prolec GE (remaining 50%) for $5.275B; expected to close mid-2026, funded 50/50 cash/debt; Prolec generates $3B revenue at 25% EBITDA margins and has $4B backlog.
Gas power backlog and slot reservations to approach 70 GW by year-end. Management expressed strong confidence in demand, pricing, and the Prolec acquisition, describing the company as 'right company for this moment' and 'excited' about future opportunities.
Guidance · revenue to $36.5B
GE Vernova is investing in AI to drive engineering productivity, particularly in gas turbine controls engineering, and uses AI in bidding, design verification, and validation. These investments are early but expected to drive substantial value in the back half of the decade.
Gas power backlog and slot reservations to approach 70 GW by year-end. Management expressed strong confidence in demand, pricing, and the Prolec acquisition, describing the company as 'right company for this moment' and 'excited' about future opportunities.
Management highlighted significant capacity expansions across gas power, electrification, and Prolec, with CapEx expected to peak in 2026. They also plan to increase R&D and CapEx by over 20% this year, including investments in AI, robotics, and automation.
Management expressed strong confidence in demand, pricing, and the Prolec acquisition, describing the company as 'right company for this moment' and 'excited' about future opportunities.
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| Free cash flow | FY2025 | $3B–$3.5B | $3.25B | MAINTAINED |
| Op margin | FY2025 | 8%–9% | 8.5% | MAINTAINED |
| Revenue | FY2025 | $36B–$37B | $36.5B | MAINTAINED |
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GE Vernova partners with Samsung to co-develop and market small modular nuclear reactors outside North America, potentially expanding Samsung's nuclear footprint.
“We also announced our strategic alliance with Samsung this month to advance our BWRX300 nuclear SMR outside North America.”
… pace. Visiting our offshore marshalling harbor in the UK this month continued to give me conviction. We'll be materially complete with Dogger Bank A and Vineyard this year. All that said, We aren't running the company to simply sell and fulfill on the business in front of us. We are investing in the long-term future. We signed our first technology collaboration funding agreement with a hyperscaler for scope inside the data center, as an example. We also announced our strategic alliance with Samsung this month to advance our BWRX300 nuclear SMR outside North America. Our investments in artificial intelligence are gaining real traction as we gain engineering productivity through AI to meet the unprecedented demand in gas turbine controls engineering requests associated with the surge in both new unit and upgrade order activity. We are using AI in our bidding activity today to ensure we get customer requirements right the first time and for design verification and validation. Physical automation, using machines, robots, and mechanical systems to perform physical tasks that would otherwise require human labor is gaining traction across areas such as material handling, inspection, …