News about gas turbines

GE Vernova's remaining performance obligations (backlog) rose from $116 billion in 2023 to $176 billion at the end of the second quarter, with the power and electrification segments accounting for 111% of the increase, offset by a decline in the loss-making wind segment. CEO Scott Strazik said the $200 billion milestone should be hit very early in 2027, and the S&P Global Market Intelligence consensus calls for a $303 billion backlog in 2030. The article highlights long-term service agreements and aftermarket revenue tied to gas turbines and electrical equipment, along with margin improvement across all three segments. Slot reservation agreements, where customers pay upfront, are boosting cash flow, with 116 gigawatts under contract including 63 GW in SRAs, which are not counted in backlog. The next earnings presentation is due October 28.