GE Vernova lifts 2026 revenue, EBITDA margin, FCF guidance as orders rise 71%, Q1 FCF > full-year 2025

GE Vernova lifts 2026 revenue, EBITDA margin and FCF guidance as orders rise 71% and Q1 FCF exceeds full-year 2025
2026 guidance lifted: revenue to $44.5–$45.5B, +$0.5B; EBITDA margin +1 point; FCF to $6.5–$7.5B, +$1.5–$2.0B from $5–$5.5B.
Q1 free cash flow $4.8B already exceeds full-year 2025, prompting large 2026 FCF raise.
Orders up 71% to $18.3B, driving backlog to $163B and ~2x book-to-bill.
Backlog target pulled forward to $200B by 2027, supported by Prolec adding about $5B high-demand transformer backlog.
Q1 revenue was $9.34B, up 16% YoY, with non-GAAP EPS $17.44 and reported EPS $1.98, beating estimates.
Q1 2026 net income totaled $4.7B for the quarter, as reported.
Completed $5.3B Prolec GE transaction during the quarter, expanding the portfolio.
Electrification is main growth engine; Q1 data center orders $2.4B exceed all of 2025.
Gas Power demand robust with 100GW under contract and strong pricing 10–20% above
4Q25.
Wind remains a drag with $382M Q1 EBITDA loss and larger first-half losses expected.
Segment margins expanding sharply: Power at 16.3% EBITDA, Electrification at 17.8% and rising.
Tariff headwinds ($250–$350M 2026 impact) and Wind exposure partly offset by pricing and mix.
Balance sheet remains strong with $10.2B cash, <1x gross debt/EBITDA, and ongoing buybacks, dividends.
Management confident on long-cycle backlog, data centers, capacity expansions, while main concern Wind losses, tariff headwinds, large-long-cycle-execution and ramp risks.
Strong quarter, driven by surging Electrification and Gas Power demand, pricing, and working-capital-fueled cash generation.

https://finviz.com/quote.ashx?t=GEV&p=d

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White House says Iran must hand over enriched uranium to US

 

Iran must turn over its enriched uranium to the United States, White House press secretary Karoline Leavitt said in an interview with Fox News.

https://www.iranintl.com/en/liveblog/202604194357

Spirit Airlines surges on reports of rescue deal

 The shares of the American low-cost airline Spirit Aviation Holdings Inc. skyrocketed by more than 200% on Wednesday after reports claimed that the Trump administration is involved in talks to potentially rescue the company from liquidation with a financial package that would give the US government the option to own up to 90% of the airline after it exits bankruptcy.

US President Donald Trump previously said that he would "love" for somebody to buy Spirit because the airline is "in trouble," adding that the federal government "should help that one out."

The airline's stock soared by 225% to go for $1.95 per share at 2:19 pm ET.

https://breakingthenews.net/Article/Spirit-Airlines-surges-over-200-on-reports-of-rescue-deal/66126961

WH: Iran's attacks on ships not ceasefire violations

 White House Press Secretary Karoline Leavitt stated on Wednesday that Iran's attacks on the three cargo ships in the Strait of Hormuz did not constitute a ceasefire violation because the ships did not belong to the United States.

Speaking to FOX News, Leavitt noted that Iran attacked the Greek and Mediterranean ships using "speedy gunboats" like "pirates," because the US destroyed their Navy and military capabilities. She added that the cards are currently in the hands of US President Donald Trump and that he has more "flexibility" now since he extended the ceasefire with Iran until the Iranian representatives are able to come up with a "unified response."

https://breakingthenews.net/Article/WH:-Iran's-attacks-on-ships-not-ceasefire-violations/66127146

Geopolitical risk will still affect stocks over the next few weeks – Yardeni

 Ed Yardeni warned that while the recent stock market correction has ended, the conflict surrounding the Strait of Hormuz will keep markets volatile through the summer.

“It’s hard to imagine this is really over in the next few days or even the next few weeks. It could still be pretty messy,” the veteran market strategist said, predicting a “consolidation pattern” as peace talks turn into a game of brinkmanship.

Despite his near-term caution over the unpredictability of the war, Yardeni is sticking with his year-end S&P 500 (SP500) target of 7,700, representing roughly a 9% gain from recent levels.

He said the biggest technology companies have reasserted their dominance and continue to “call the shots” for the broader market, describing them as “stocks for all seasons” that attract investors during periods of economic uncertainty.

The market is supported by surprisingly resilient corporate earnings and massive amounts of cash on the sidelines ready to buy dips.

“Earnings kept rising, even during the selloff—it was almost like analysts didn’t get the memo about the war,” Yardeni said, adding that he doesn’t expect the S&P 500 (SP500) to retest its March 30 low.

Yardeni identified the recent selloff as a moment of capitulation, using sentiment as a contrarian indicator to call the rebound.

“When sentiment collapses like that, it’s usually a sign the worst is behind us,” he said, citing his track record of calling market bottoms at their most grim moments, including in 1982 and March 2009.

U.S. markets tracking ETFs: (DIA), (DDM), (DOG), (DXD), (SDOW), (SPY), (VOO), (IVV), (RSP), (SSO), (UPRO), (SH), (SDS), (SPXU), (QQQ), (QQQM), (TQQQ), (QID), and (SQQQ).

Tech ETFs: (VGT), (XLK), (IYW), (FTEC), (IXN), and (RSPT).

https://www.msn.com/en-us/money/markets/geopolitical-risk-will-still-affect-stocks-over-the-next-few-weeks-ed-yardeni/ar-AA21tP6s

Merck (MRK) Partners with Google Cloud for $1B AI Initiative

 On April 22, 2026, Merck & Co Inc MRK announced a significant partnership with Google Cloud, valued at up to $1 billion, aimed at transforming its operations into an AI-driven enterprise. This multi-year agreement will leverage Google Cloud's platforms, including Gemini Enterprise, to enhance productivity for Merck's workforce of over 75,000 employees.

https://www.gurufocus.com/news/8810093/merck-mrk-partners-with-google-cloud-for-1b-ai-initiative

Iran's Covert Oil Trade Persists As Tankers Breach US Blockade

 By Tsvetana Paraskova of OilPrice.com

Iran continues to export its oil out of the Persian Gulf via the Strait of Hormuz using dark mode on tankers to move past the US blockade outside the world’s most vital oil chokepoint.

At least two Iran-flagged supertankers fully laden with an estimated about 4 million barrels of crude have exited the Gulf via the Strait of Hormuz and through the U.S. blockade, Bloomberg reports, citing satellite imagery analyzed by energy flows intelligence firm Vortexa.

The two Iranian very large crude carriers have been detected by satellite images as they had turned off their transponders and AIS positioning weeks ago. One of the supertankers, the Hero II, last transmitted a signal more than a month ago, with position in the Malacca Strait, data on MarineTraffic showed. The other VLCC, the Hedy, was last detected by AIS transponders around the same area near Malaysia and Singapore more than 70 days ago.

Various vessel-tracking and maritime intelligence firms say that Iran continues to export its oil and move tankers past the U.S. blockade, by increasingly using dark activity and signal spoofing tactics.

Earlier this week, an Iranian supertanker, which had delivered 2 million barrels of crude to a ship-to-ship transfer offshore Indonesia, was en route to return to Iran’s Kharg Island after entering the Strait of Hormuz through the U.S. blockade.

An Iran-owned VLCC departed Iran in late March 2026 and traveled to the Riau Archipelago in Indonesia, where she transferred 2 million barrels of crude oil to another VLCC, according to vessel monitoring data by TankerTrackers.com.

“Iranian flows continue via deception, including dark activity and ship-to-ship transfers,” maritime intelligence firm Windward said in a daily note on Tuesday.

“Iranian maritime trade remains active, but increasingly reliant on deceptive shipping practices and alternative routing strategies. New intelligence indicates potential shifts east of Hormuz, suggesting that pressure in the Gulf is driving adaptation rather than halting flows.”  

https://www.zerohedge.com/geopolitical/irans-covert-oil-trade-persists-tankers-breach-us-blockade