On its third-quarter 2026 earnings call, held on Oct. 28, 2026, GE Vernova (NYSE:GEV) announced a $9 billion acquisition and expanded its total order backlog to $197 billion. The power equipment manufacturer is positioning itself to capture demand from the global expansion of electric grids and data center growth. Three things management said stand out. The company agreed to buy Trench Group for $9 billion to vertically integrate manufacturing of essential electrical substation equipment, including bushings for insulation and coils for grid stability. The deal expands internal supply control in its high-voltage transmission segment as global grid demand scales. Segment margins reached 21.4% of earnings before interest, taxes, depreciation, and amortization (EBITDA) during what is typically the lowest period for high-margin service revenue. Higher prices for heavy-duty gas turbine deliveries are beginning to flow through financial results as production scales up.
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