New York, January 29, 2026, 11:00 EST — Regular session
- GE Vernova shares dropped roughly 3% by late morning, following a choppy session earlier in the day
- Wind unit caution at Vineyard Wind complicates the boosted 2026 outlook
- Investors are focused on the Feb. 2 Prolec GE closing and watching closely to see if wind losses remain under control
Shares of GE Vernova (GEV) slipped Thursday, despite a bullish 2026 forecast, as concerns about offshore wind lingered. The stock dropped roughly 3.0% to $690.16 in late morning New York trading, fluctuating between $722.57 and $687.81 earlier in the session.
This move is significant since GE Vernova is at the heart of a power-equipment cycle accelerated by data centers and grid upgrades. Its order book has become a real-time indicator of how quickly utilities and major clients are rushing to secure turbines, transformers, and related equipment.
The story isn’t straightforward. The wind segment can still dominate the narrative, often in bursts, whenever projects delay or expenses shift.
On Wednesday, the company warned that delays at the Vineyard Wind offshore project in Massachusetts could cost its wind unit about $250 million in revenue this year if 11 turbines remain uninstalled. It also flagged tariffs implemented in Q2 2025, which shaved roughly $70 million off quarterly results, adding further strain on its wind business. (Reuters)
GE Vernova’s quarterly report showed $22.2 billion in orders and a backlog rising to $150 billion. CEO Scott Strazik said the firm was heading into 2026 with “significant momentum.” CFO Ken Parks highlighted “a healthy cash balance of nearly $9 billion,” crediting strong cash generation. (GE Vernova)
An 8-K filing revealed GE Vernova raised its 2026 revenue target to between $44 billion and $45 billion, boosting its free cash flow forecast to $5.0 billion-$5.5 billion—cash remaining after capital expenditures. The company also set an adjusted EBITDA margin range of 11%-13%, a measure of operating profit excluding certain items. This updated guidance factors in the planned acquisition of the remaining 50% stake in transformer maker Prolec GE, expected to close on Feb. 2. (Q4 CDN)
Following the earnings, a few brokers acted fast. Evercore ISI’s James West bumped his price target up to $905, while Charles Minervino at Susquehanna raised his to $820, Benzinga reported. (Benzinga)
GE Vernova goes head-to-head with Siemens Energy in segments of the gas-turbine and grid markets, while also facing off against Vestas and other players in wind. Right now, the focus isn’t so much on demand but on execution—what actually ships, the timing, and the margins involved.
The risk remains that setbacks in wind projects continue to impact cash flow and guidance. Additional delays at Vineyard Wind, or a broader slowdown in offshore work, might push investors to scrutinize the company’s 2026 cash target more closely, along with its capacity to maintain margins amid the Prolec integration.
Traders are eyeing updates on Vineyard Wind installation progress and whether the Prolec GE deal seals on Feb. 2 as planned. After that, focus moves to early-2026 order conversion — specifically if the backlog turns into deliveries quickly enough to prevent the stock from languishing in this tug-of-war.
