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GE Vernova

GEV Q4 2025 Earnings

Reported Jan 28, 2026 at 6:25 AM ET · SEC Source

Q4 25 EPS

$N/A

Est. $3.22

Q4 25 Revenue

$11.00B

vs S&P Since Q4 25

+48.7%

BEATING MARKET

GEV +52.3% vs S&P +3.6%

Full Year 2025 Results

FY 25 Revenue

$38.10B

BEAT +2.14%

Est. $37.30B

Market Reaction

Did GEV Beat Earnings? Q4 2025 Results

GE Vernova delivered a blowout fourth quarter to close out 2025, posting revenue of $11.00 billion against a consensus estimate of $10.19 billion, a beat of nearly 8%, as revenue climbed 4.2% year over year. The standout driver was an extraordinary s… Read more GE Vernova delivered a blowout fourth quarter to close out 2025, posting revenue of $11.00 billion against a consensus estimate of $10.19 billion, a beat of nearly 8%, as revenue climbed 4.2% year over year. The standout driver was an extraordinary surge in orders, with Q4 bookings jumping 65% organically to $22.20 billion and pushing total backlog to a record $150.00 billion, a sequential gain of $15.00 billion in a single quarter. Net income of $3.70 billion was materially aided by a $2.90 billion tax benefit, while adjusted EBITDA of $1.20 billion reflected a 10.6% margin for the period. The Power segment was the engine of the quarter, with Gas Power alone recording 41 heavy-duty turbine orders as data center and grid infrastructure demand accelerated. Management raised its 2026 revenue outlook to $44.00–$45.00 billion and set a 2028 target of $56.00 billion in revenue at a 20% adjusted EBITDA margin, moves that have helped cement GEV's rising stature among large-cap industrials.

Key Takeaways

  • • Gas Power equipment demand tripling year-over-year with 41 heavy-duty units in Q4
  • • Price, volume, and productivity driving margin expansion across Power and Electrification
  • • Strong demand for grid equipment, particularly switchgear and HVDC
  • • $2.9 billion tax benefit from U.S. valuation allowance release boosting Q4 net income
  • • Equipment margin in backlog expanding 6 points year-over-year through disciplined underwriting
  • • Services growth across all segments
24/7 Wall St

GEV YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

GEV Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 24 Q1 26

“We delivered strong financial performance in 2025 with continued momentum in Power and Electrification while focusing on what we can control in Wind. We increased our backlog to $150 billion, with better equipment margins, and are entering 2026 with significant momentum.”

— Scott Strazik, Q4 2025 Earnings Press Release

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