GE Vernova Inc. (GEV) Presents at Bank of America Global Industrials Conference 2026 Transcript

SA Transcripts159.02K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call GE Vernova Inc. (GEV) Bank of America Global Industrials Conference 2026 March 18, 2026 4:50 AM EDT Company Participants Scott Strazik - CEO, President & Director Conference Call Participants Andrew Obin - BofA Securities, Research Division Presentation Andrew ObinBofA Securities, Research Division [Audio Gap] analyst, and this morning with us, we have Scott Strazik, CEO of GE Vernova. Scott, thanks so much for coming to London. And we'll go off to Q&A. Scott StrazikCEO, President & Director Sounds good Andrew, I appreciate it. Thanks for having me, everyone. Thanks for giving us a little bit of time this morning. Okay. Andrew, if I start with a few thoughts just framing the company. I mean, for those that are maybe a little less familiar with it, we spun out from General Electric in April of '24. So almost 2 years ago today, generate about 25% of the world's electricity every day with our equipment through our customers. So that creates a real obligation and opportunity for us in a period of time when the world needs a lot more electricity. It also creates a huge installed base that generates a big services business for us. So when you look at GE Vernova last year, about 45% of our revenue was services revenue, supporting that big installed base, $85 billion services backlog today. So a big foundational part of the business. If I just give a quick overview of the businesses before we jump into the Q&A, our largest business is our power business. That's about 2/3 services, 1/3 equipment today, although the equipment is going to grow exponentially over the next few years as we add more capacity. A lot of it's gas power. We also have a very exciting small modular reactor products that we're gaining momentum on. We can talk about nuclear today. Our second largest business is electrification. That will