GE Vernova drops after mixed Q3 results, warns of continued weakness in wind business

[Aerial view of windmills in summer forest in Finland. Wind turbines for electric power with clean and Renewable Energy]
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GE Vernova (NYSE:GEV [https://seekingalpha.com/symbol/GEV]) -4.1% in Wednesday's trading, trimming earlier losses of as much as 9%, after posting a Q3 adjusted earnings miss [https://seekingalpha.com/news/4506547-ge-vernova-reports-mixed-q3-results-reaffirms-fy25-outlook] and issuing full-year revenue guidance that was merely reaffirmed rather than upgraded after facing high expectations ahead of the report.

The company swung to a Q3 profit of $453 million, or $1.64/share, from a loss of $99 million, or a loss of $0.35/share, in the year-earlier quarter, revenues climbed 12% Y/Y to a stronger than expected $9.97 billion, and orders jumped 55% on an organic basis to $14.6 billion, led by strong equipment growth at its power and electrification divisions, pushing backlog up $6.6 billion compared to the end of Q2.

GE Vernova's (NYSE:GEV [https://seekingalpha.com/symbol/GEV]) power unit alone saw a 50% rise in orders to $7.8 billion and a 15% gain in revenue, wind segment orders gained 4% to $1.8 billion, and orders in the electrification business roughly doubled to $5.1 billion, driven by strong demand for grid equipment in the Middle East, North America and Europe.

But the company warned [https://www.reuters.com/business/energy/ge-vernova-posts-third-quarter-profit-power-equipment-demand-2025-10-22/] that extended weakness in onshore wind due to permit delays and tariff uncertainty likely will weigh on 2026 revenues, causing revenues in the unit to decline by the high-single digits compared with its previous forecast of a mid-single-digit drop as onshore equipment orders for the business remain soft in the U.S.

"The onshore volume trajectory remains too difficult to call," CEO Scott Strazik said on the company's earnings conference call [https://seekingalpha.com/article/4831872-ge-vernova-inc-gev-q3-2025-earnings-call-transcript], adding that GE Vernova (GEV [https://seekingalpha.com/symbol/GEV]) is still closing deals for upgrading and servicing existing turbines and for selling new turbines in attractive international markets.

On a brighter note, the CEO said "hyperscalers increasingly are turning to us for their electrification needs," contributing $400 million of orders in Q3, adding the company has booked ~$900 million in electrification orders with hyperscalers YTD, compared to $600 million for all of 2024.

GE Vernova's (GEV [https://seekingalpha.com/symbol/GEV]) buyout [https://seekingalpha.com/news/4506387-ge-vernova-to-acquire-remaining-50-of-prolec-ge-jv-in-53b-deal] of Xignux's 50% stake in the Prolec joint venture is a net positive, Oppenheimer analysts said, given the company's ability to manage operations, add capacity and expand the geographic sales of its electrification business.

MORE ON GE VERNOVA

* GE Vernova Q3 2025 Earnings Call Presentation [https://seekingalpha.com/article/4831846-ge-vernova-inc-2025-q3-results-earnings-call-presentation]
* GE Vernova: I'm Loading The Truck Heading Into Q3 2025 Earnings [https://seekingalpha.com/article/4831169-ge-vernova-im-loading-the-truck-heading-into-q3-2025-earnings]
* GE Vernova: Higher For Longer Growth Rate [https://seekingalpha.com/article/4826407-ge-vernova-higher-for-longer-growth-rate]