GE Vernova Beats Q3, Buys Prolec GE

GE Vernova reported third-quarter segment EBITDA of $977 million, Electrification orders up ~102% and Power orders ~50%, and said it swung to a profit while turbine reservations/backlog rose to about 62 GW with turbines largely sold out through 2028. The company reaffirmed 2025 revenue guidance of $36–37 billion and management raised electrification growth forecasts, targeting sustained organic revenue gains into 2030. GE Vernova agreed to buy the remaining 50% of Prolec GE from Xignux for roughly $5.3 billion, a deal expected to close by mid-2026 pending regulatory approval and to be financed about half with cash and half with debt. The acquisition removes prior contractual limits, boosts transformer production and North American sales as Prolec expands facilities in Louisiana, Mexico and North Carolina, and increases exposure to data centers. Management said Prolec’s data-center sales are about 20% of its mix and hyperscale centers have generated roughly $900 million in orders, prompting pursuit of integrated “power-to-rack” solutions. Analysts largely welcomed the results and deal (e.g., Goldman Sachs reiterated a Buy), but the stock has been volatile and risks remain from Wind-segment losses and project delays and debate over whether current share prices already reflect aggressive growth assumptions.