GE Vernova gains 5% as CEO sees backlog hitting $200B

GE Vernova shares rose 5% to $926.81 on Wednesday afternoon after CEO Scott Strazik spoke at a Morgan Stanley conference. Strazik told the audience that the company's order backlog could reach $200 billion very early in 2027, driven by strong third-quarter orders and expanding electricity consumption across customers.

The company had closed the second quarter with a backlog of $176 billion. Strazik described the $200 billion target as a humble milestone compared with the trajectory ahead, highlighting that automation and robotics inside GE Vernova's factories will help meet surging demand. A formal 2027 outlook is planned for the January earnings call, alongside a longer-range financial view at its next capital markets day.

The comments sparked gains across the grid sector. Eaton shares rose 2% to $401.73, while Quanta Services added 2% to $625.95. The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund climbed 2% to $175.59, outperforming the SPDR S&P 500 ETF Trust, which edged up 0.3% to $759.51.

Even with Wednesday's advance, GE Vernova shares remain down 13% over the past month. The session marked a relief rebound after weeks of declines, rather than an immediate return to its earlier uptrend.