GE Vernova raises earnings guidance as AI data center power demand accelerates, offsetting weakness in wind turbine sales.

GE Vernova raised its full-year revenue forecast on Wednesday after another quarter of booming demand for gas turbines, grid equipment and AI-driven electricity infrastructure. Wind was the clear exception. The company's wind business posted deeper losses as turbine manufacturers continue to struggle with weak project economics, rising costs and politics.

The company reported second-quarter revenue of $11.1 billion, up 22% year-over-year and ahead of analyst expectations, while orders surged 88% to a record $24.2 billion, lifting its backlog to $176 billion. Power orders more than doubled, driven by utilities and hyperscale data center developers racing to secure electricity supplies. GE Vernova said data center orders have already exceeded $5 billion this year, more than twice the total booked during all of 2025. The company raised its 2026 revenue guidance to $45.5 billion–$46.5 billion.

The wind segment told a markedly different story. Revenue from GE Vernova's wind business fell 10% to $2.03 billion, while adjusted EBITDA losses widened to roughly $275 million as lower onshore turbine deliveries, tariffs and persistent project headwinds pressured profitability. The company now expects its wind business to lose roughly $400 million this year, even as its Power and Electrification divisions expand rapidly.

The broader wind industry continues to struggle with weak project economics after years of inflation, supply chain disruptions, higher financing costs and rising construction expenses eroded returns.

Offshore wind has been hit particularly hard by project cancellations and permitting delays. The Trump administration has halted new offshore leasing, cancelled several federally backed projects, frozen Defense Department reviews affecting more than 100 proposed wind farms and redirected billions toward oil and gas development. Although federal courts have overturned parts of these policies, regulatory uncertainty continues to delay new projects and weigh on the sector.

Attention now turns to upcoming earnings from peer companies. Siemens Energy, whose Siemens Gamesa subsidiary ranks among the world's largest wind turbine manufacturers, reports third-quarter results on August 5. Vestas Wind Systems, the world's largest wind turbine maker, follows on August 12, while offshore wind developer Ørsted reports on August 13.