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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“To get us started, we've secured gas turbine slots with GE Vernova to support four gigawatts of gas-fired generation projects.”
NextEra secured GE Vernova gas turbine slots for 4 GW of new gas-fired generation, a demand read-through for GE Vernova's turbine backlog.
“we announced a landmark strategic alliance with GE Vernova to support our growing portfolio of wind and natural gas generation, transmission, distribution, and technology projects into the 2030s.”
Xcel announced a strategic supply alliance with GE Vernova for wind and gas generation, transmission and technology, including additional gas turbines on order. Positive demand read-through for GE Vernova equipment.
“a framework agreement with GE Vernova on turbine procurement”
Duke has a framework agreement with GE Vernova to procure gas turbines for its ~5GW+ new gas generation build, a read-through on strong GE Vernova turbine order demand.
“Howmet is well positioned in this segment by the supply of turbine blades, where we are the largest manufacturer of gas turbine blades in the world, covering our key customers of GE Vernova, Siemens Power, Mitsubishi Heavy and [ Saldo, Solar and Baker Hughes ], plus parts for aero derivative engines produced by GE Aviation.”
Howmet names GE Vernova as a key gas turbine blade customer amid strong data-center-driven gas turbine demand; Howmet recently completed new contracts with several of these customers.
“GE was certainly early on with their commitment to build new capacity for turbines. We are seeing the same now with Siemens and Mitsubishi.”
PPL names GE (Vernova) as an early mover in expanding gas-turbine manufacturing capacity that PPL's Blackstone JV is engaging to source turbines, a positive demand signal for GE Vernova's power business.
“if you're going to build 1.2 gigawatts of GEV turbines, that number is going to be on the high end.”
NRG's new-build gas generation for data-center contracts relies on GE Vernova (GEV) turbines, positioning GEV as a key equipment supplier.
“You mentioned the partnership that we have with GE Vernova and the strong relationship that we have there”
GE Vernova is NextEra's turbine partner supporting its planned gas-fired (combined-cycle) generation build-out.
“we have entered into an engineering, procurement and construction agreement with a joint venture between Quanta Infrastructure Solutions Group and Zachry Industrial for development of the 2 GE Verona -- Vernova state-of-the-art CCGT stations”
NiSource's GenCo will build two combined-cycle gas turbine stations using GE Vernova turbines, a supplier read-through for GE Vernova's gas-turbine equipment.
“We are advancing numerous additional opportunities, including up to 5.4 gigawatts of new capacity for data centers through 2032 under our GE Vernova and Kiewit partnership, supporting the principle of additionality.”
NRG's turbine-supply and build partnership with GE Vernova underpins up to 5.4 GW of new data-center generation capacity through 2032, a positive demand read-through for GE Vernova's gas-turbine order book.
“With turbines secured under our framework agreement with GE Vernova and gas supply contracted, we are confident in meeting the in-service time lines we have laid out for these new units.”
GE Vernova is supplying turbines under a framework agreement supporting Duke Energy's new combined-cycle generation build-out, giving Duke confidence in its in-service timelines.
“And then any updates to share on the partnership with GE Vernova and Kiewit on the gas assets to kind of start up in that '29, 2030 time frame?”
NRG's gas turbine development partnership with GE Vernova (alongside Kiewit) underpins its future power supply pipeline for data center and large-load customers, indicating steady equipment demand for GE Vernova.
“Yeah. I mean things with - under the framework agreement continue to advance. We've been doing work together on the customer origination side. As a matter of fact, we hosted an event last week that we call Deploy following Development Day, where Scott and I jointly hosted a number of companies across various sectors. And very fruitful, and we continue to try to advance opportunities on that front, particularly around large-scale load.”
NextEra continues to advance its strategic framework partnership with GE Vernova on gas-fired generation and joint customer origination, including a joint industry event pursuing large-scale load opportunities.
“as we progress in building our first SMR at the Darlington site with OPG”
Ontario Power Generation (OPG) is GE Vernova's customer for its first small modular reactor at the Darlington site, a nuclear equipment revenue driver.
“Also, both S&P and Fitch upgraded our investment grade credit ratings and maintain positive outlooks on these upgraded ratings.”
Fitch upgraded GE Vernova's investment-grade credit rating with a positive outlook, alongside S&P, a rating-agency action ahead of GEV's Prolec debt issuance.
“Also, both S&P and Fitch upgraded our investment grade credit ratings and maintain positive outlooks on these upgraded ratings.”
S&P Global Ratings upgraded GE Vernova's investment-grade credit rating with a positive outlook, a rating-agency action ahead of GEV's Prolec debt issuance.
“I'm pleased that our Prolec GE acquisition has received rapid approval from all required jurisdictions.”
GE Vernova is acquiring the remaining 50% of Prolec GE, a transformer maker whose distribution transformers feed data-center demand, closing February 2; management is highly positive on the deal's revenue and cost opportunities.
“We also announced a strategic alliance with Samsung this month to advance our BWRX-300 nuclear SMR outside North America”
GE Vernova formed a strategic alliance with Samsung to advance deployment of its BWRX-300 small modular reactor outside North America.
“We partnered with Xignux for 30 years to build a world-class transformer business”
Xignux was GE Vernova's 30-year JV partner in Prolec GE; GEV is buying out Xignux's remaining 50% stake in the transformer business.
“Prolec will further strengthen our capabilities in the grid equipment market, primarily for transformers in North America”
GE Vernova is acquiring the remaining 50% of the Prolec GE transformer JV for $5.275B, consolidating a leading North American transformer maker into its electrification segment.
“our acquisition of Woodward's gas turbine parts business, which includes a factory that allows us to redirect work and optimize the layout of our Greenville plant with limited CapEx spending and improved productivity in our Gas Power supply chain.”
GE Vernova acquired Woodward's gas turbine parts business and associated factory, a small divestiture by Woodward that GE Vernova is using to optimize its own supply chain.
“In the first half of this year, both S&P and Fitch affirmed our investment-grade credit rating and increased their ratings outlook to positive from stable.”
S&P Global affirmed GE Vernova's investment-grade rating and raised its outlook to positive, a favorable rating action referenced as evidence of GE Vernova's financial strength.
“In March, Fitch revised its GE Vernova ratings outlook to positive from stable and affirmed our investment-grade credit rating of BBB.”
Fitch revised GE Vernova's ratings outlook to positive and affirmed its BBB investment-grade rating.
“we started at executing on a few smaller projects that have been announced like Crusoe and Texas but it's a very small amount”
GE Vernova is executing early, small-scale gas turbine projects for data-center developer Crusoe, though data-center-linked orders remain a minor share of its backlog so far.
“Our customer in Ontario Power Generation received the license to construct the first SMR in North America earlier this month.”
GE Vernova customer Ontario Power Generation received regulatory approval to build the first small modular reactor in North America, a milestone for GE Vernova's nuclear/SMR ambitions.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Joe Ritchie | Goldman Sachs | 6 (0%) |
| Julian Mitchell | Barclays | 6 (17%) |
| Nicole DeBlase | Deutsche Bank | 6 (0%) |
| Mark Strouse | JPMorgan | 6 (0%) |
| Andy Kaplowitz | Citigroup | 5 (0%) |
| Nigel Coe | Wolfe Research | 4 (0%) |
| Andy Obin | Bank of America | 3 (33%) |
| Amit Mehrotra | UBS | 3 (0%) |
| Chris Dendrinos | RBC Capital Markets | 3 (0%) |
| Dave Arcaro | Morgan Stanley | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 | 6 (0%) |
| Barclays | 1 | 6 (17%) |
| Deutsche Bank | 1 | 6 (0%) |
| JPMorgan | 1 |
GE Vernova closed FY2025 with Q4 revenue up 3.8% and Power EBITDA margin expanding 160 basis points to 16.9%, while gas power commitments surged to 83GW targeting 100GW in 2026. Equipment backlog added $8 billion with 50% backlog growth, and Electrification posted record Q4 orders at 2.5x revenue. FY2026 guidance was raised to include the Prolec GE acquisition, though organic targets remained at prior levels, and offshore wind losses worsened to $600 million annually.
Demand | Pricing | Capex Investment | Margin | Revenue Growth | Innovation & R&D | Guidance Reliability | Cloud & AI | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 3 | 1 | 2 | 1 | 1 | ||
| 2025Q1 | 6 | 1 | 1 | 2 | 2 | 2 | ||
| 2025Q2 | 4 | 2 | 1 | 3 | 3 | 2 | ||
| 2025Q3 | 7 | 4 | 6 | 3 | 1 | 1 | ||
| 2025Q4 | 6 | 3 | 3 | 1 | 1 | |||
| 2026Q1 | 4 | 2 | 2 | 1 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 6 | 4 | 7 | 6 | 4 |
| Pricing | 3 | 1 | 2 | 4 | 3 | 2 |
| Capex Investment | 1 | 1 | 1 | 6 | 2 | |
| Margin | 2 | 3 | 3 | 3 | ||
| Revenue Growth | 2 | 3 | 1 | |||
| Innovation & R&D | 1 | 2 | 1 | 1 | ||
| Guidance Reliability | 1 | 2 | 1 | 1 | ||
| Cloud & AI | 2 | 1 | 2 |
| 6 (0%) |
| Morgan Stanley | 2 | 5 (0%) |
| Citigroup | 1 | 5 (0%) |
| Wolfe Research | 1 | 4 (0%) |
| RBC Capital Markets | 1 | 3 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
GEV GE Vernova | 9 | +16.1% | |
| CEG Constellation Energy | 6 | -10.5% |