GE Vernovaの電化事業バックログが450億ドルに到達：変圧器・開閉装置の購買担当者が注視すべき点

Reported by Yahoo Finance on 2026-10-16. Summarized and analyzed by XAIPART Editorial.

What happened

GE Vernova (GEV) closed at $926.44 on October 15, 2026, 21.14% below its June 30 record close of $1,174.86, but still up about 42% year-to-date in 2026.^S1 JPMorgan and Susquehanna trimmed their price targets on October 9 and October 14 and kept positive ratings on the stock.^S1 CEO and President Scott Strazik told Morgan Stanley's Laguna conference on September 16 that the company's Electrification backlog has grown to $45 billion from $6 billion at the end of 2021.^S1 Third-quarter results are scheduled for October 28, per GE Vernova investor relations materials.^S1

On October 15, Venture Global (VG) announced agreements with GE Vernova and Baker Hughes (BKR); its 8-K describes two deals, both signed October 9.^S1 The grid agreement has GE Grid Solutions (part of GE Vernova's Electrification segment) supplying transformers and gas-insulated switchgear for up to 21 power island projects, with five equipment packages reserved and purchase orders starting in late 2026.^S1 The power agreement covers Venture Global's first power island expected by the end of 2026, plus eight more reserved with GE Vernova, with orders expected from early 2027.^S1 The source notes that beyond reservation fees, neither agreement binds either party to the remaining scope, and the roughly $17.2 billion total assumes every order proceeds; the split between the two agreements is not disclosed.^S1

GE Vernova bought the remaining 50% of Prolec GE on February 2, 2026.^S1 Strazik said there is "even more opportunity to fulfill within the existing footprint than I anticipated prior to close," and that 2028 financials should be materially better than the incremental revenue and margin projected in October 2025 when the deal was announced.^S1 With the joint venture's exclusive North American hold now removed, GE Vernova's international factories booked $800 million of North American orders through Q2 2026, while Prolec reported $859 million of Q2 revenue and a $57 million pretax loss, per GE Vernova's 10-Q.^S1

Strazik said three Electrification products "aren't really even embedded in that $45 billion backlog": an energy management system that links a data center to the grid or on-site power; a medium-voltage UPS whose launch order he expects in H2 2026, with first shipments in mid-2027 per GE Vernova's August 24 announcement; and solid-state transformers, which remain in development.^S1 He added that hyperscalers have racks connected to GE Vernova equipment at its Niskayuna, New York research center, which he cited as the reason Electrification R&D is growing faster than the other two segments.^S1 Separately, GE Vernova trades at 44.09x NTM normalized P/E, versus 25.59x for ABB and 22.63x for Schneider Electric, per TIKR, and Q2 adjusted EPS of $2.41 reported July 22 missed the $3.01 estimate.^S1

Corrections: none at publication. This brief will be updated with a timestamp if the source corrects its report.