GE Vernova expects to end 2025 with an 80-GW gas turbine backlog that stretches into 2029

Core Insights - GE Vernova anticipates significant revenue growth in its electrification segment, projecting a 25% increase in 2025 and around 20% in 2026, driven by an electrification "supercycle" that will enhance electricity's share in final energy consumption [4][3]. Group 1: Revenue and Growth Projections - Expected revenue in 2028 is projected to be $52 billion, excluding the 50% Prolec GE acquisition [4]. - The electrification segment is expected to see a revenue growth of 25% in 2025 [3]. Group 2: Gas Turbine Orders and Production - GE Vernova's gas turbine backlog is expected to reach 80 GW by the end of 2025, with strong demand reflected in 18 GW of turbine orders booked in the current quarter [8][10]. - The company aims for an annualized turbine production of 20 GW by mid-2026, with potential to increase to 24 GW by mid-2028 [9]. Group 3: Market Demand and Acquisitions - The current quarter is anticipated to be the largest for electrical equipment orders directed to hyperscaler tech companies, with orders coming from Europe, North America, the Middle East, and Australia [5][6]. - The pending acquisition of Prolec GE for $5.3 billion is expected to enhance GE Vernova's market presence in lower-voltage electrical equipment across various geographies, with the deal on track to close in mid-2026 [7].