A maker of gas turbines, grid equipment, and wind machines whose installed base generates roughly a quarter of the world's electricity, GE Vernova was born on April 2, 2024, when General Electric spun off its power, renewable energy, and digital businesses into one stand-alone company. Its name blends "verde" (green) with "nova" (Latin for "new"), and its towering Haliade-X offshore turbine has a rotor wider than a football field's length.
Wind segment losses deepened to $(275)M as lower Onshore deliveries and higher Offshore costs offset gains in Electrification and Power.
The Wind 's path to sustained profitability reversed this quarter. rose 22% to $11.1 billion and reached $0.6 billion, driven by Electrification and Power, but Wind's loss widened to $(275) million on lower equipment deliveries and higher project costs. The company's grew to $176.3 billion, but the Wind recovery flagged as a concern a quarter after it first turned profitable.
Key takeaways
rose 22% to $11.1 billion, with up 12%, led by Electrification—which includes the Prolec GE acquisition—and Power on higher equipment deliveries and favorable pricing.
was $0.6 billion, up $0.2 billion from the prior year, as volume, productivity, and price gains in Electrification and Power were partially offset by a wider loss in Wind.
Wind fell to a loss of $(275) million from a loss of $(165) million a year ago, pressured by lower Onshore Wind equipment deliveries and higher Offshore Wind project costs, reversing the profitability achieved in the second half of 2025.
Section summaries
Management's Discussion and Analysis
Q2 2026 revenue rose 22% to $11.1B driven by Electrification and Power, while net income reached $0.6B.
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Total revenues increased $2.0B (22%) to $11.1B, with up 12%, led by Electrification (including the Prolec GE acquisition) and Power on higher equipment deliveries and favorable pricing.
Electrification increased $0.4 billion on volume, productivity, and favorable price at Power Transmission and Power Conversion & Storage, while Power segment EBITDA rose $0.2 billion at Gas Power on higher volume and pricing.
Cash from operating activities reached $10.7 billion for the first half, boosted by $11.8 billion in higher and deferred income from customer down payments at Power and Electrification.
The company now estimates a $100 million to $200 million net cost impact from global tariffs in 2026 after mitigations, down from the $250 million to $350 million estimate provided in the first quarter.
What changed
The Wind 's trajectory toward breakeven, flagged as a key watch item after it achieved profitability in the second half of 2025, reversed: the segment's EBITDA loss widened to $(275) million from $(165) million a year ago, driven by lower Onshore Wind equipment deliveries and higher Offshore Wind project costs.
The estimated full-year tariff cost impact was revised down to $100 million to $200 million from the $250 million to $350 million range provided in Q1 2026, indicating further mitigation or a lower assessed exposure.
The Prolec GE acquisition, which closed in Q1 2026 and generated a $4.0 billion non-cash remeasurement gain, contributed to Electrification's reported growth of 61% in Q1; its integration continues to drive results, with Electrification up $0.4 billion in Q2.
Total remaining performance obligations grew 17% year-to-date to $176.3 billion, up from $150.2 billion at the end of 2025, driven by Gas Power and Electrification, while the prior decline in Wind RPO was not highlighted as continuing in this filing.
What to watch
Whether the Wind 's widening loss to $(275) million represents a renewed downturn or is concentrated in the first half, and if management provides a revised timeline for the segment's return to sustained profitability.
The conversion of the $176.3 billion RPO into , particularly whether Electrification can maintain its growth trajectory as it integrates Prolec GE and cycles against increasingly difficult comparisons.
The actual cost impact from global tariffs in 2026, measured against the revised $100 million to $200 million estimate, and whether further mitigations are identified or the cost is absorbed within margins.
How the company balances debt reduction from the $2.6 billion senior notes issuance with the resumption of share repurchases under the $10.0 billion authorization, given the $10.2 billion cash balance.
was $0.6B, up $0.2B, and rose $0.5B to $1.2B, driven by volume, productivity, and price in Electrification and Power, partially offset by lower equipment deliveries and higher project costs in Wind.
Electrification increased $0.4B on volume, productivity, and favorable price at Power Transmission and Power Conversion & Storage; Power segment EBITDA rose $0.2B at Gas Power on higher volume and pricing.
Wind declined $0.1B to a loss of $(275)M, pressured by lower Onshore Wind equipment deliveries and higher Offshore Wind project costs.
Cash from operating activities was $10.7B for the first half, boosted by $11.8B in higher and deferred income from down payments at Power and Electrification.
The company estimates a $100M–$200M net cost impact from global tariffs in 2026 after mitigations, and RPO grew 17% year-to-date to $176.3B, driven by Gas Power and Electrification.
Quantitative and Qualitative Disclosures About Market Risk
primarily from fluctuations of foreign currency exchange rates, interest rates, and commodity prices. These exposures are managed and mitigated with the use of financial instruments, including derivatives contracts. We apply policies to manage these risks, including prohibitions…
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primarily from fluctuations of foreign currency exchange rates, interest rates, and commodity prices. These exposures are managed and
mitigated with the use of financial instruments, including derivatives contracts. We apply policies to manage these risks, including
prohibitions on speculative activities. The effects of foreign currency fluctuations on earnings were $(0.1) billion and less than $0.1 billion for
the three months ended and $(0.1) billion and less than $0.1 billion for the six months ended June 30, 2026 and 2025, respectively. See
operations, cash flows, financial condition, and/or future prospects, including those identified in Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended on December 31, 2025.
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operations, cash flows, financial condition, and/or future prospects, including those identified in Item 1A. "Risk Factors" in our Annual
Report on Form 10-K for the fiscal year ended on December 31, 2025.