GE Vernova (GEV) Stock Hits New High as Company Sells Out Capacity Through 2030
GE Vernova's stock surged 2.8% to $801.25 following a sales reservation agreement with Maxim Power for a 7HA.02 gas turbine, accompanied by a nonrefundable deposit due in 2026. The company outperformed Q4 expectations, reporting earnings per share of $13.39 against a forecast of $2.99 and revenue of $10.96 billion versus $10.21 billion projected.
Gas power generation backlog reached 83 gigawatts by the end of 2025, with CEO Scott Strazik anticipating 100 gigawatts by year-end. Capacity for 2029-2030 is nearly sold out, reflecting robust demand. The company also doubled its quarterly dividend to $0.50 per share, signaling strong financial health.
Shares have skyrocketed 102% over the past year, driven by escalating electricity demand from AI data centers. Wall Street now projects 2030 EBITDA at nearly $17 billion, up from $9 billion a year ago.
