GE Vernova’s Q3 2026 orders, reported before the open on October 28, reached $29 billion, up 96% organically and well above pre-earnings consensus estimates near $22 billion, driven primarily by Power segment gas equipment contracts and slot reservation agreements amid surging electricity demand from data centers and AI infrastructure. The company’s backlog expanded $20 billion sequentially to $197 billion, with gas power equipment and services commitments rising from 116 GW to 122 GW and full-year targets lifted to at least 130 GW. Revenue grew 27% to $12.6 billion while adjusted EBITDA margin expanded sharply, reflecting favorable mix and pricing. Traders focus on conversion of reservations into firm orders, Electrification grid demand, and any commentary on 2027 visibility as key swing factors for order momentum relative to historical quarterly averages.