At the Morgan Stanley Laguna Conference, GE Vernova CEO Scott Strazik said the company could reach its $200 billion backlog milestone “very early” in 2027.
- GE Vernova ended Q2 with a $176 billion backlog, with Strazik citing the strength of Q3 orders as the basis for confidence in reaching the $200 billion milestone early.
- The company plans to provide its 2027 financial outlook, along with 2026 equipment margin and backlog figures, during its January earnings call.
- It also expects to establish its 2030 financial outlook at its next capital markets day in spring 2027.
GE Vernova (GEV) shares gained on Wednesday after CEO Scott Strazik said he sees “very strong and durable demand” for the company’s products and expects 2030-2040 to be an “even better decade” for the business than 2020-2030.
According to TheFly, Strazik made the comments while speaking at the Morgan Stanley Laguna Conference, where he pointed to strong orders, a growing backlog, and rising global electricity demand as reasons for his confidence in GE Vernova’s longer-term growth.
“If we begin with the end markets, I would tell you we continue to see very strong and durable demand,” Strazik said.
GEV stock gained around 5% in midday trade, with retail sentiment on Stocktwits around the company trending in ‘bullish’ territory over the past day alongside ‘high’ levels of chatter.
GE Vernova Sees Backlog Reaching $200B Early
GE Vernova ended the second quarter (Q2) with a $176 billion backlog, and Strazik said the company remains on track to reach $200 billion in backlog in 2027. He said the company could reach that milestone “very early in 2027,” based on the strength of orders expected in the third quarter (Q3).
Strazik called $200 billion “a very humble milestone” relative to the trajectory he sees for GE Vernova, citing a broader shift toward increased electricity consumption. “The world needs a lot more energy, and it is going to get a lot more of that energy from electric power, in which GE Vernova is very well positioned to serve,” he said.
Strazik also pointed to internal improvements, including automation and robotics in the company’s factories, to help meet growing demand.
GE Vernova To Set 2030 Outlook
At the company’s next capital markets day, Strazik said the company would set its 2030 financial outlook. “We will spend a lot of that meeting on why we have so much conviction that 2030 to 2040 is an even better decade for us than 2020 to 2030,” he stated.
Prior to that, he said the company plans to provide its 2027 financial outlook during its January earnings call, when it will also disclose its 2026 equipment margin and backlog figures.
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