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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Kenneth Parks Executive | CFO | None | CFO of GE Vernova since October 2023. Previously CFO at Owens Corning, Mylan N.V., and Wesco International. Brings 38 years of financial leadership experience. Holds a Bachelor of Science in Accounting from the University of Tulsa. | |
Matthew Potvin Executive | VP, Chief Accounting Officer | None | VP, Chief Accounting Officer, and Controller Principal Accounting Officer at GE Vernova. No additional details about his career or external roles are provided in the documents. | |
Scott Strazik Executive | CEO | None | CEO of GE Vernova since November 2021. Over 20 years of experience in finance, operations, and leadership roles at GE, including CEO of GE Gas Power and CFO of GE Gas Power Systems. Holds degrees from Cornell University and Columbia University. | View Report → |
Arnold W. Donald Board | Director | Director at Bank of America, Salesforce, MP Materials, and Foster Farms | Director at GE Vernova since 2024. Former CEO of Carnival Corporation. Extensive leadership experience in global operations and risk management. Holds degrees in Economics, Mechanical Engineering, and an MBA from the University of Chicago. | |
Jesus Malave Board | Director | CFO of Lockheed Martin | Director at GE Vernova since 2024. Currently CFO of Lockheed Martin. Former CFO of L3Harris Technologies and UTC Aerospace Systems. Holds degrees in Mathematics, Accounting, and Law. | |
Kim K.W. Rucker Board | Director | Director at Celanese, HP Inc., Marathon Petroleum, and Lennox International; Board Member at Haven for Hope and Johns Hopkins Medicine | Director at GE Vernova since 2024. Former EVP and General Counsel at Andeavor and Kraft Foods. Holds degrees in Economics, Law, and Public Policy from Harvard University. | |
Martina Hund-Mejean Board | Director | Director at Prudential Financial and Colgate-Palmolive | Director at GE Vernova since May 2024. Former CFO of MasterCard Worldwide. Extensive experience in financial governance. Holds degrees in Economics and Business Administration. | |
Matthew Harris Board | Director | Founding Partner of Global Infrastructure Partners; Chairman of EnLink Midstream; Advisory Board Member at Columbia University Climate School and Center for Global Energy Policy; Board Member at Pioneer Works and WWF | Director at GE Vernova since 2024. Founding Partner of Global Infrastructure Partners with extensive experience in infrastructure investment. Holds advisory roles at Columbia University and other organizations. | |
Nicholas K. Akins Board | Director | Chairman of Fifth Third Bancorp; Board Member at DTE Energy; Board Member of Nuclear Insurance Mutual; Trustee of Rock and Roll Hall of Fame | Director at GE Vernova since 2024. Former Executive Chair, CEO, and Chairman of American Electric Power. Holds bachelor's and master's degrees in electrical engineering from Louisiana Tech University. | |
Paula Rosput Reynolds Board | Director | President and CEO of PreferWest LLC; Director at GE, National Grid, BP, and Linde; Trustee of Eureka Foundation; Director of Fifth Avenue Theatre | Director at GE Vernova since 2024. Former CEO of Safeco Corporation and AGL Resources. Extensive experience in energy and governance. Holds degrees in Economics and Public Policy. | |
Stephen Angel Board | Non-Executive Chair of the Board | Chairman of Linde plc; Board Member at GE; Board Member at PPG Industries; Member of U.S.-China Business Council | Non-Executive Chair of GE Vernova since 2024. Former CEO of Linde plc and Praxair, with over 22 years of experience at GE in various management roles. Holds degrees in Civil Engineering and an MBA from Loyola College. |
- Given the quality and execution challenges you've experienced in offshore wind this quarter, can you provide more details on the specific steps you're taking to address these issues and ensure they won't impact future performance?
- With the significant increase in gas turbine orders, especially from hyperscalers, how confident are you in your supply chain's ability to meet this rising demand, and are there any potential bottlenecks that could hinder your capacity expansion plans?
- You recently sold a 16% stake in GE Vernova T&D India, highlighting a strategy to monetize assets when opportunities arise. How does this approach align with your long-term growth objectives, and could further divestments potentially weaken your competitive position?
- Electrification achieved a 24% revenue increase this quarter with growing backlog. Do you have sufficient capacity to support this continued growth, and are you facing any constraints in scaling up production without significant capital expenditure?
- Historically, your Power segment reached high-teens to low-20s EBITDA margins during prior growth cycles. Considering the current market dynamics and pricing environment, do you anticipate returning to those margin levels, and what factors might impede achieving this?
Research analysts who have asked questions during GE Vernova earnings calls.
Andrew Obin
Bank of America
5 questions for GEV
Julian Mitchell
Barclays Investment Bank
5 questions for GEV
Mark W. Strouse
J.P. Morgan Chase & Co.
5 questions for GEV
Nicole DeBlase
BofA Securities
5 questions for GEV
Andrew Kaplowitz
Citigroup
3 questions for GEV
Andrew Percoco
Morgan Stanley
3 questions for GEV
Joseph Ritchie
Goldman Sachs
3 questions for GEV
Julien Dumoulin-Smith
Jefferies
3 questions for GEV
Nigel Coe
Wolfe Research, LLC
3 questions for GEV
Amit Mehrotra
UBS
2 questions for GEV
Chris Dendrinos
RBC Capital Markets
2 questions for GEV
Christopher Dendrinos
RBC Capital Markets
2 questions for GEV
Joe Ritchie
Goldman Sachs
2 questions for GEV
Moses Sutton
BNP Paribas
1 question for GEV
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Siemens Energy | A key competitor in the Power segment, competing across multiple products and services in the electric power industry. |
Mitsubishi Power | A competitor in the Power segment, providing advanced technologies for the electric power industry. |
Westinghouse | A competitor in the Power segment, focusing on technologies for the electric power industry. |
Framatome | A competitor in the Power segment, offering solutions in the electric power industry. |
Rolls-Royce | A competitor in the Power segment, competing in the electric power industry. |
Vestas | A key competitor in the Wind segment, specializing in wind turbine manufacturing and services. |
Siemens-Gamesa | A competitor in the Wind segment, providing wind turbine solutions and services. |
Nordex | A competitor in the Wind segment, focusing on wind turbine manufacturing and services. |
Hitachi Energy | A competitor in the Electrification segment, offering solutions for power transmission and distribution. |
Siemens | A competitor in the Electrification segment, providing technologies for power transmission and distribution. |
Schneider Electric | A competitor in the Electrification segment, specializing in energy management and automation solutions. |
Mitsubishi Electric | A competitor in the Electrification segment, offering solutions for power systems and automation. |
A competitor in the Electrification segment, focusing on power and automation technologies. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Nexus Controls | 2023 | GE Vernova's Gas Power completed the acquisition on April 3, 2023, to enhance its service and delivery capabilities by integrating Nexus Controls’ expertise in aftermarket control system upgrades and controls field services, aligning with its strategic customer asset enhancement goals. |
Recent press releases and 8-K filings for GEV.
- 2025 targets: GE Vernova expects $50 billion of orders and $37 billion of revenue in 2025, with gas power contractual commitments rising from 55 GW to ~60 GW by Q3; Q2 saw 9 GW of new contracts, and electrification orders direct from hyperscalers total $600 million YTD, with $1 billion expected full-year.
- Segment performance: Onshore wind faces order softness driven by permitting and tariff ambiguity—Q3 orders are forecast to decline sequentially; 2026 onshore wind revenue may drop 10%–15%, pulling EBITDA margins from high- to mid-single digits.
- Long-term growth outlook: Management sees a “decade of action” in which global energy demand and the share of electricity grow substantially, planning to add at least 200 GW to its gas-power installed base over the next 10 years.
- Electrification and software focus: Plans to sell its Proficy manufacturing-software unit for $600 million and reinvest proceeds into grid-software and co-creation projects with hyperscalers; acquired AI analytics firm Alteia to accelerate grid-management solutions.
- Capital allocation strategy: Strong free-cash-flow and net-cash position support peak CapEx in 2026, double-digit R&D growth in 2026, opportunistic share buybacks and core-focused M&A such as the Woodward acquisition.
- In 2025 GE Vernova expects $50 billion in orders versus $37 billion in revenue at attractive margins and plans to further strengthen profitability.
- Gas power backlog stands at 55 GW on contract, set to approach 60 GW by Q3, with 9 GW of new Q2 contracts driven by hyperscaler and 7HA turbine deals.
- Electrification segment is on track for $1 billion of hyperscaler orders in 2025 (including $600 million YTD), focusing on co-creation of power-to-rack solutions.
- Onshore wind faces order softness, with Q3 orders expected down sequentially and 2026 revenues potentially 10–15% lower, pressuring EBITDA margins toward mid-single digits.
- Management will issue an updated by-2028 financial guide at year-end analyst day, emphasizing margin uplift, backlog growth and long-term electrification and services expansion.
- GE Vernova expects $50 billion in orders and $37 billion in revenue in 2025 at attractive margins, and plans to raise its “by 2028” financial targets after stronger-than-anticipated execution year-to-date.
- In gas power, the company has 55 GW of new capacity on contract (orders + slot reservations) and added 9 GW of incremental contracts in Q2, aiming to reach ~60 GW through Q3, driven by hyperscaler demand for air-cooled and 7HA turbines.
- Electrification momentum builds with $600 million of hyperscaler orders YTD and at least $1 billion expected this year, plus a $2.5 billion Saudi commitment for synchronous condensers (with $1.5 billion to be ordered in Q3) as GE Vernova co-creates end-to-end power-to-rack solutions.
- Onshore wind remains challenged by permit and tariff uncertainties; Q3 orders are forecasted to be sequentially down, and 2026 onshore wind revenue could decline 10–15% with EBITDA margins drifting to mid-single digits.
- GE Vernova expects $50 billion of orders and $37 billion of revenue in 2025 at attractive margins
- Gas power backlog stands at 55 GW on contract, nearing 60 GW by Q3; Q2 saw 9 GW of new orders driven by hyperscalers and industrial clients
- Electrification segment has secured $600 million of orders YTD, targeting $1 billion in 2025, fueled by co-creation with hyperscalers and expansions in Saudi Arabia, Algeria, and Korea
- Onshore wind faces softness: Q3 orders projected down sequentially, with 2026 revenue potentially 10–15% lower and EBITDA margins easing from high-single to mid-single digits
- GE Vernova will raise its by-2028 financial guidance following stronger execution, margin improvements, and over $13 billion of backlog growth in 2025
- GE Vernova expects $50 billion of orders in 2025 versus $37 billion of revenue, with 55 GW of new gas power capacity under contract (rising toward 60 GW by 3Q).
- Onshore wind orders are softening: 3Q orders likely down ~3% sequentially, and 2026 onshore wind revenue could fall 10–15% from 2025, pushing EBITDA margins toward mid-single digits.
- Electrification momentum continues: $600 million of hyperscaler orders YTD and >$1 billion expected in 2025, including major projects in Saudi Arabia, Algeria, and Korea.
- Capital allocation driven by core focus: sale of Proficy manufacturing software for $600 million to TPG to reinvest in grid software; free cash flow growth will support double-digit R&D increase in 2026, peak CapEx, and ongoing share buybacks.
- Over the next decade, GE Vernova plans to add 200 GW of gas capacity—primarily baseload—to its 720 GW fleet and is investing in grid software and SMR projects in Canada (and pending U.S. NRC approval).
- The industrial sector is up 16% in 2025 YTD, second only to communication services, and sits about 1% below its all-time high.
- GE Vernova has been the top performer, climbing roughly 90% YTD, though it remains approximately 8% below its recent peak.
- GE Aerospace and Howmet Aerospace have also driven gains, up 63% and 60%, respectively, so far this year.
- On the downside, transportation names like UPS and FedEx are lagging, with UPS the worst performer among S&P 500 industrials.
- The U.S. transformer market was $715 million in 2024 and is forecast to reach $1 492.28 million by 2030, growing at a 13.0% CAGR.
- The market is moderately consolidated, led by GE Vernova, Eaton, and Siemens Energy, with rising demand from aging infrastructure, data centers, AI, semiconductors, and clean energy projects.
- The U.S. West region dominates distribution transformers, with an 8.50% CAGR forecast from 2024 to 2030 driven by state clean energy policies and EV infrastructure investments.
- Modernization programs include California ISO replacing 1,200+ transformers, ERCOT’s $35 million investment, and ComEd’s $75 million commitment to upgrade aging units with smart models.
- Major production expansions announced for 2025: Prolec GE’s $140 million North Carolina facility, VanTran-MGM’s $1 billion Texas plant, Eaton’s South Carolina site, and Pennsylvania Transformer’s $102.5 million North Carolina expansion.
- GE Vernova plans to add 250 new jobs at its Charleroi, PA, factory over the next two years, investing up to $100 million to boost production of high-voltage switchgear for U.S. grids.
- This expansion contributes to a total of 700 new jobs across multiple Pennsylvania facilities and builds on a $600 million multi-year investment announced in January to create 1,500 jobs.
- The company secured an order for seven 7HA.02 high-efficiency gas turbines for the Homer City Energy Campus, which will provide up to 4.4 GW of electricity and is expected to be completed in 2027.
- The Pennsylvania investment is part of GE Vernova’s broader $9 billion global capex and R&D plan through 2028, announced at its December 2024 Investor Update.
- GE Vernova Hitachi Nuclear Energy will invest $50–70 million to build the first dedicated BWRX-300 SMR engineering and service center near OPG’s Darlington site in Ontario.
- The facility, set to open by late 2027, will support up to four SMRs scheduled to begin operation in 2029–2030.
- It will offer engineering, maintenance, training (including a virtual reality simulator) and innovation support, aiming to train >2,000 professionals annually.
- The project is expected to create >300 skilled jobs in the Durham Region and bolster Ontario’s clean‐energy ambitions.
- Market analysts maintain an Outperform rating on GE Vernova, with an average target price of $475.19, reflecting confidence in its SMR strategy.
- 15 months post-spin: GE Vernova is now a purpose-built public company with a robust portfolio spanning gas turbines, grid solutions, nuclear, wind, electrification, and carbon capture initiatives.
- Gas capacity growth: The company reported a current run rate of about 15 GW in gas turbines, with plans to reach 20 GW by 3Q ’26 (full year ’27) and a steadily growing order backlog extending into 2029 and beyond.
- Diverse energy mix focus: GE Vernova is enhancing its positioning in a market favoring long-term gas utilization while progressively advancing its nuclear (including SMR projects) and wind segments amid varying market dynamics.
- Grid modernization and HVDC expansion: The firm is investing in modernizing its grid business and is targeting new HVDC projects, particularly in North America, to capitalize on a growing equipment backlog.