Q1 26 EPS
$N/A
Q1 26 Revenue
$9.30B
BEAT +0.36%
Est. $9.27B
vs S&P Since Q1 26
+5.3%
BEATING MARKET
GEV +6.6% vs S&P +1.3%
Market Reaction
Did GEV Beat Earnings? Q1 2026 Results
GE Vernova delivered a decisive beat in Q1 2026, with revenue of $9.30 billion edging past the $9.27 billion consensus estimate and climbing 15.8% year over year, while the company's strategic maneuvers reshaped its financial profile in ways that wil… Read more GE Vernova delivered a decisive beat in Q1 2026, with revenue of $9.30 billion edging past the $9.27 billion consensus estimate and climbing 15.8% year over year, while the company's strategic maneuvers reshaped its financial profile in ways that will echo through the rest of the year. The quarter's defining event was the completion of the Prolec GE acquisition, the purchase of the remaining 50% stake in its former joint venture for approximately $5.30 billion, which generated $4.50 billion in pre-tax M&A net gains and inflated GAAP net income to $4.70 billion, a figure management was careful to flag as non-representative of core operations. Beneath that accounting noise, adjusted EBITDA of $900.00 million nearly doubled year over year, with margin expanding 390 basis points to 9.6%. Orders of $18.30 billion surged 71% organically, fueled by data center demand that drove Electrification's book-to-bill ratio to roughly 2.5. With analysts already watching the company's positioning in AI infrastructure buildouts, management raised full-year revenue guidance to $44.50 billion to $45.50 billion and lifted free cash flow expectations to $6.50 billion to $7.50 billion.
Key Takeaways
- • Price, volume, and productivity improvements driving margin expansion across Power and Electrification
- • Strong gas turbine equipment deliveries and pricing at Gas Power
- • Prolec GE acquisition contributing to Electrification revenue growth
- • Increased switchgear and transformer volume at Power Transmission
- • Working capital benefits and stronger adjusted EBITDA driving free cash flow
- • Onshore Wind services partially offsetting equipment volume declines
GEV Forward Guidance & Outlook
GE Vernova raised its 2026 financial guidance: revenue now expected at $44.5–$45.5 billion (up from $44–$45 billion), adjusted EBITDA margin of 12%–14% (up from 11%–13%), and free cash flow of $6.5–$7.5 billion (up from $5.0–$5.5 billion). By segment: Power expects 16%–18% organic revenue growth and 17%–19% EBITDA margin (up from 16%–18%); Electrification expects revenue of $14.0–$14.5 billion (up from $13.5–$14.0 billion, including ~$3 billion from Prolec GE) and 18%–20% EBITDA margin (up from 17%–19%); Wind expects organic revenue down low-double digits and approximately $400 million in EBITDA losses. Gas Power combined backlog and slot reservation agreements are now expected to reach at least 110 GW by year-end 2026, up from 100 GW currently.
GEV YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
GEV Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a solid start to 2026 as we continue to serve the growing, long-cycle electric power market. Demand is accelerating for our Power and Electrification solutions from a diverse set of customers, with our backlog growing by more than $13 billion quarter-over-quarter.”
— Scott Strazik, Q1 2026 Earnings Press Release
GEV Earnings Trends
GEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GEV EPS Trend
Earnings per share: estimate vs actual
GEV Revenue Trend
Quarterly revenue: estimate vs actual
GEV Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | $9.30B | +0.36% |
| Q4 25 FY | $3.22 | — | — | $11.00B | — |
| FY Full Year | $7.76 | — | — | $38.10B | +2.14% |
| Q3 25 | $1.86 | — | — | $10.00B | +9.17% |
| Q1 25 | $0.37 | — | — | $8.00B | +5.99% |
| Q4 24 FY | $2.49 | — | — | $10.60B | — |
| FY Full Year | $3.23 | — | — | $34.90B | +0.47% |