Summary
GE Vernova Inc. (GEV) reported a significant increase in revenue and net income for the first quarter of 2026 compared to the prior year. Total revenues reached $9.3 billion, up 16% year-over-year, driven by strong performance in both equipment and services, notably boosted by the acquisition of Prolec GE. The company's net income soared to $4.7 billion, a substantial increase from $264 million in Q1 2025, largely attributed to a significant pre-tax gain of $4.0 billion from the Prolec GE acquisition and a $330 million gain from the sale of the Proficy business. Operationally, GE Vernova demonstrated improved profitability with a Net Income margin of 50.9%, up from 3.3% in the prior year. The company also saw a significant increase in cash flow from operations, reaching $5.2 billion, supporting robust free cash flow of $4.8 billion. The backlog, represented by Remaining Performance Obligations (RPO), grew to $163.3 billion, indicating strong future revenue potential across all segments, particularly Electrification and Power. The company also increased its share repurchase authorization to $10 billion.
Financial Highlights
47 data points| Revenue | $9.34B |
| Cost of Revenue | $7.56B |
| Gross Profit | $1.78B |
| R&D Expenses | $304.00M |
| SG&A Expenses | $1.30B |
| Operating Income | $179.00M |
| Net Income | $4.75B |
| EPS (Basic) | $17.65 |
| EPS (Diluted) | $17.44 |
| Shares Outstanding (Basic) | 269.00M |
| Shares Outstanding (Diluted) | 272.00M |
Key Highlights
- 1Total revenues increased by 16% to $9.3 billion in Q1 2026 compared to $8.0 billion in Q1 2025.
- 2Net income surged to $4.7 billion, a substantial increase from $264 million in the prior year, primarily due to a $4.0 billion gain from the Prolec GE acquisition.
- 3The acquisition of Prolec GE for $5.3 billion significantly contributed to the Electrification segment's growth, with Prolec GE's net assets and results included from February 2, 2026.
- 4Remaining Performance Obligations (RPO) grew to $163.3 billion as of March 31, 2026, up from $123.4 billion in the prior year, reflecting strong future contract value.
- 5Cash from operating activities significantly increased to $5.2 billion in Q1 2026, compared to $1.2 billion in Q1 2025, leading to free cash flow of $4.8 billion.
- 6The company repurchased $1.3 billion of its common stock in Q1 2026 and announced an increase in its share repurchase program to $10 billion.
- 7Segment EBITDA increased by 67% to $958 million, with notable growth in the Power and Electrification segments, though the Wind segment experienced a significant EBITDA loss.