GE Vernova Forecasts $200 Billion Backlog by Early 2027

GE Vernova shares fell 17.03% over the past month, erasing gains from a strong second-quarter report. Analysts attribute the decline to profit-taking and a market rotation away from AI-power stocks, though the company reported second-quarter revenue of $11.10 billion and a $176 billion backlog.

GE Vernova CEO Scott Strazik outlined a growth trajectory during the Morgan Stanley Laguna Conference on September 16, 2026, projecting the company will hit a $200 billion backlog milestone early in 2027. Strazik described the current environment as an "electricity investment super cycle," fueled by hyperscaler demand for turbines and transformers. Data center orders exceeded $5 billion in the first half of 2026.

To meet this demand, the company plans to use automation and robotics to increase gas-turbine output to a 7-gigawatt quarterly run rate by 2028. While the wind segment remains soft due to permitting and tariff uncertainties, GE Vernova reports improving profitability in onshore services and offshore projects. The company also noted that the integration of Prolec GE is exceeding expectations, enhancing its ability to serve North American customers from international factories. Management has doubled its full-year free cash flow guidance to between $11.5 billion and $12.5 billion.