GE Vernova reported third-quarter 2026 revenue of $12.64 billion, up 27% from a year earlier, and adjusted EPS of $4.81, both above Wall Street estimates. Orders reached $29.3 billion, up 96% organically, and backlog hit a record $197 billion, prompting the company to raise its 2026 free cash flow guidance to $16 billion to $17 billion and its revenue range to $46.5 billion to $47.5 billion. It also agreed to acquire Trench Group for $9 billion, which is projected to generate $1.9 billion in 2028 revenue, with closing not expected until late 2027. Despite the beat, GE Vernova shares fell 6% in the early session after rising 30% year to date, while Vertiv jumped 13% following its own beat and raised outlook. A more cautious reading holds that expectations were already high and the deal offers a distant payoff alongside added debt.
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