GE Vernova(NYSE) GEV

GE Vernova Inc. helps utilities create and distribute electricity to homes. It builds turbines for wind and gas power plants. The company also makes equipment to modernize the electric grid.

What Is Powering the Business?

• Power Segment: Generates electricity using natural gas, nuclear, hydro, and steam power; recorded $5.5 billion in revenue for the three months ended June 30, 2026.
• Electrification Segment: Provides grid infrastructure, power conversion technologies, and energy storage systems; generated $3.6 billion in revenue for the three months ended June 30, 2026.
• Wind Segment: Fabricates and sells onshore and offshore wind turbines and blades; accounted for $2.0 billion in revenue for the three months ended June 30, 2026.
• Grid Automation: Offers software and services to manage electricity transmission and distribution; part of the realigned Electrification division.

Strategic Growth and Expansion

• Acquired the remaining 50% stake in Prolec GE on Feb. 2, 2026, for approximately $5.3 billion to expand North American transformer manufacturing.
• Issued $2.6 billion in senior notes on Feb. 4, 2026, to fund general corporate activities and the Prolec GE acquisition.
• Completed the installation of all wind turbines at the Vineyard Wind project during the first quarter of 2026.
• Sold the Proficy manufacturing software business in the first half of 2026, resulting in a $0.3 billion pre-tax gain.
• Realigned business reporting on Jan. 1, 2026, to consolidate Onshore Wind operations and restructure its Power and Electrification divisions.

Large Backlogs and Infrastructure

GE Vernova maintains a backlog of orders, known as remaining performance obligations, which totaled $176.3 billion as of June 30, 2026. The company operates a specialized manufacturing network that includes seven sites in the Americas and approximately 10,000 employees via its Prolec GE unit to support electricity transmission.

Key Performance Metrics

• Total revenues reached $11.1 billion for the three months ended June 30, 2026, an increase of 22% year over year.
• Net income rose to $5.4 billion for the six months ended June 30, 2026, driven by a $4.0 billion pre-tax gain from the Prolec GE acquisition.
• Adjusted EBITDA was $1.2 billion for the three months ended June 30, 2026, representing a $0.5 billion increase over the prior-year period.
• Free cash flow hit $9.9 billion for the six months ended June 30, 2026, compared to $1.2 billion for the same period in 2025.

Bottom Line

GE Vernova has transitioned into a standalone energy enterprise focused on the global transition toward decarbonization and grid modernization. Its recent acquisitions and structural realignment reflect a strategic shift toward integrated electrification and renewable energy solutions.