GE Vernova raises annual revenue forecast

Jan 28 (Reuters) - Power equipment maker GE Vernova GEV.N raised its annual revenue forecast on Wednesday, as booming electricity demand from data centers drove strong order growth across its power and electrification units.

GE Vernova expects revenue of $44 billion to $45 billion in 2026, compared with its prior view of $41 billion to $42 billion.

The company reported $59.3 billion in orders during the quarter, a 34% jump, compared with the same reporting period a year earlier, led by growth in its power and electrification units.

Its electrification unit reported a core profit of $505 million, up 78.4% from a year ago, while the power unit posted $971 million, nearly a 20% rise.

Analysts on average expect the company to report annual revenue of $41.97 billion in 2026, according to data compiled by LSEG.