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How GE Vernova (GEV) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/22/2026
GE Vernova, Inc. is an energy equipment manufacturing and services company headquartered in Cambridge, Massachusetts. · Wikipedia
More about the company
The company operates through three main segments: Power, which designs, manufactures, and services gas, nuclear, hydro, and steam technologies; Wind, which provides onshore and offshore wind turbines and blades; and Electrification, which offers grid solutions, power conversion, solar and storage solutions, and digital technologies for the transmission, distribution, and management of electricity.
Key growth driver: Electrification — the fastest-growing revenue line: $3,637, +68% y/y. · by the Q2 2026 report
How does GE Vernova make money?
GE Vernova brought in $11.1 billion of revenue in Q2 2026, up 21.9% year over year. The largest source was Power: $5.48 billion, or 49% of the total, followed by Electrification ($3.64B, 33%) and Wind ($1.99B, 18%). Net income for the quarter was $668 million, up 30.0% year over year.
Revenue by source, Q2 2026
- Power$5.48B · 49% · +14.5%
- Electrification$3.64B · 33% · +68.2%
- Wind$1.99B · 18% · −9.8%
Shares of $11.1B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is GEV’s next earnings date?
Wednesday, October 28, 2026estimated
GE Vernova (GEV) has not confirmed the date yet; Oct 28, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $4.10 (7 analysts), vs $1.64 in the same quarter last year.
What time does GEV report? Usually before market open: the last 4 results releases reached the SEC at 6:25 am, 6:25 am, 6:25 am, 6:36 am ET.
Last report: Jul 22, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$11,104
+21.9%
incl. $(36)M corp/eliminations
Gross profit
$2,360
+27.8%
margin 21.3%
Operating income
$653
+72.8%
margin 5.9%
Net income
$668
+30.0%
diluted EPS $2.47
Verdict: a strong operating quarter—revenue up 22% and operating income up 73% led by Electrification's Prolec GE-fueled surge and Power's Gas Power strength—was reported alongside a much smaller headline net income gain (+30%) versus the prior year because the Q1 Prolec GE remeasurement gain (booked in the six-month, not three-month, period) does not repeat, while Wind remains a persistent drag with negative segment EBITDA.
6M OCF $10,680M (+$9.2B y/y); $2,350M shares repurchased in Q2 (2.5M shares) under $10B program, $6,963M repurchased cumulatively; dividends $134M declared in Q2 ($0.50/share); tariff cost impact estimated $100-200M for 2026.
Source and notation
* marks non-cash / ≈ estimated. Source: GE Vernova press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
GEV earnings history: past report dates
| Jul 22, 2026 Wed | 6:25 ambefore market open | Jun 30, 2026 | $11.1B+22% y/y | $2.47+33% y/y |
| Apr 22, 2026 Wed | 6:25 ambefore market open | Mar 31, 2026 | $9.3B+16% y/y | $17.44 |
| Jan 28, 2026 Wed | 6:25 ambefore market open | Dec 31, 2025 | ≈$11.0B+4% y/y | ≈$13.28+659% y/y |
| Oct 22, 2025 Wed | 6:36 ambefore market open | Sep 30, 2025 | $10.0B+12% y/y | $1.64 |
| Apr 23, 2025 Wed | 6:21 ambefore market open | Mar 31, 2025 | $8.0B+11% y/y | $0.91 |
| Jan 22, 2025 Wed | 6:21 ambefore market open | Dec 31, 2024 | ≈$10.6B+5% y/y | ≈$1.75 |
| Oct 23, 2024 Wed | 6:22 ambefore market open | Sep 30, 2024 | $8.9B+8% y/y | −$0.35+44% y/y |
| Jul 24, 2024 Wed | 6:24 ambefore market open | Jun 30, 2024 | $8.2B | $4.65 |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
GE Vernova: 4-year financials
| 2025 | 38,068 | 1,388 | 4,884 | 275 |
| 2024 | 34,935 | 471 | 1,552 | — |
| 2023 | 33,239 | −923 | −438 | — |
| 2022 | 29,654 | −2,881 | −2,736 | — |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Jan 2026Per the cover of its 2025 10-K, GE Vernova has a single class of securities — GEV common stock on the NYSE; Legal Matters lists no shareholder suits or SEC investigations. sec.gov ↗
- Jan 2026In 2025 it repurchased 8.2M shares for $3.3B and paid $1.00 per share in dividends; in December 2025 the quarterly dividend was raised to $0.50. sec.gov ↗
- Dec 2025Diluted share count rose just 0.7% over 2022→2025; SBC is 0.7% of revenue (XBRL 10-K). data.sec.gov ↗
Scoring: 2.0, no deductions = 2.0
- Share classes
- Single class of common stock (cover of 2025 10-K).
- Dilution
- Spun off from GE in April 2024 (shares distributed to GE shareholders — not dilution); diluted share count 2022→2025 +0.7%, SBC 0.7% of revenue.
- Disclosure
- 10-Ks and 10-Qs filed on time, audited US GAAP financials; no deduction.
- Dividends
- Dividends since 2024: $0.25 per quarter in 2025, $0.50 declared in December 2025; 8.2M shares repurchased for $3.3B in 2025; no violations.
- Lawsuits & regulators
- Legal Matters in the 10-K covers only environmental/asbestos suits; no shareholder suits or SEC cases.
- Related parties
- The only related-party transactions in the 2026 proxy are the employment of relatives of two executives ($120K–$400K a year); no deduction.
How the score works · checked as of Sep 2026
GE Vernova (GEV) earnings: FAQ
How does GE Vernova make money?
GE Vernova brought in $11.1 billion of revenue in Q2 2026, up 21.9% year over year. The largest source was Power: $5.48 billion, or 49% of the total, followed by Electrification ($3.64B, 33%) and Wind ($1.99B, 18%). Net income for the quarter was $668 million, up 30.0% year over year.
When is GEV's next earnings date?
GE Vernova (GEV) has not confirmed the date yet; Oct 28, 2026 is an estimate based on its past reporting schedule.
What time does GEV report earnings?
GE Vernova usually reports before market open: its latest results release was filed with the SEC at 6:25 am ET on Jul 22, 2026.
When did GEV last report earnings?
GE Vernova reported Q2 2026 results on Jul 22, 2026.
What is the EPS estimate for GEV's next earnings?
The consensus EPS forecast is $4.10 (7 analysts), vs $1.64 in the same quarter last year.
Where can I find GE Vernova's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to GEV's filings; this page breaks the latest report down in a Sankey chart.
What was GEV's net income in Q2 2026?
GE Vernova reported net income of $668M for Q2 2026 (+30.0% year over year), under US GAAP.
Does GE Vernova pay dividends?
Yes. In 2025, GE Vernova paid $275M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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