TLDR
- GE Vernova reached a record peak of $1,182.31 on July 6, climbing 121.61% over 12 months and 70.6% in 2026
- Jim Cramer identified GEV as his top power sector pick and disclosed it represents a “very big position” in his Charitable Trust
- First quarter 2026 revenue reached $9.3 billion, marking 16% growth year-over-year, while EPS of $1.98 surpassed projections
- New orders totaled $18.3 billion in Q1, representing 71% organic growth; company backlog now exceeds $163 billion
- Management increased 2026 free cash flow projections to $6.5–$7.5 billion from the previous $5.0–$5.5 billion range
Shares of GE Vernova (GEV) touched a record level of $1,182.31 on July 6, 2026, with the energy company now commanding a market capitalization of $310.9 billion. The advance continues a remarkable rally that has delivered more than 120% returns over the trailing twelve months.
Year-to-date performance shows the stock climbing 70.6%, positioning it among the top performers within the energy sector. Such exceptional gains naturally attract significant market attention — and GEV is receiving plenty of it.
During Mad Money’s Lightning Round on June 30, Jim Cramer designated GE Vernova as his preferred power sector investment. He revealed the stock represents a substantial holding within his Charitable Trust — a transparent, traceable statement rather than casual commentary.
“GE Vernova of those is my favorite. It’s one that the Charitable Trust has a very big position… I say still buy GE Vernova,” Cramer stated.
The recommendation came with shares already trading at elevated levels. GEV finished July 2 at $1,113.11, yet even at that valuation, the stock’s three-year gain of 867.92% demonstrates the transformation of its underlying business.
First Quarter Results Support Bullish Thesis
The company’s first quarter 2026 performance, announced April 22, provided concrete data supporting the optimistic outlook.
Topline revenue totaled $9.3 billion, reflecting 16% annual growth. Earnings per share of $1.98 exceeded the consensus forecast of $1.84 by 7.6%.
The standout metric was order intake. First quarter orders reached $18.3 billion, climbing 71% on an organic basis, with strength evident across Power, Wind, and Electrification divisions. The company’s total backlog expanded to $163 billion, adding $13 billion in just three months.
Free cash flow of $4.8 billion represented more than a fourfold increase year-over-year. Adjusted EBITDA nearly doubled to $0.9 billion, while margins widened by 390 basis points to 9.6%.
CEO Scott Strazik emphasized momentum in gas turbine demand. Gas Power equipment backlog and slot reservations expanded from 83 gigawatts to 100 gigawatts during Q1. Management now projects reaching at least 110 gigawatts by the conclusion of 2026.
Management Elevates Full-Year Projections
Following the strong quarterly performance, GEV increased its full-year 2026 outlook across all key financial measures.
Revenue expectations now range from $44.5 billion to $45.5 billion. Adjusted EBITDA margin guidance improved to 12–14%, compared with the prior 11–13% range. Free cash flow projections jumped significantly to $6.5–$7.5 billion from the earlier $5.0–$5.5 billion target.
The company closed Q1 with cash holdings of $10.2 billion and returned $1.4 billion to shareholders via stock repurchases and dividend payments.
Wall Street coverage has strengthened as well. Bernstein launched coverage with an outperform recommendation. Jefferies elevated its price objective to $1,210 while reaffirming its Buy rating, highlighting a robust order backlog extending through 2031.
InvestingPro’s valuation framework suggests the stock currently trades above its Fair Value calculation — an important consideration for position sizing.
From a technical perspective, shares encountered resistance around the $1,170–$1,180 level on July 2 before retreating slightly. The 50-day, 100-day, and 200-day moving averages are positioned at approximately $1,052, $959, and $794 respectively.
Second quarter 2026 results are scheduled for release on July 22. The company carries a Zacks Rank of 2 (Buy) with a favorable Earnings ESP of 10.35%, as analyst estimates have trended higher approaching the announcement.
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