GE Vernova Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Three-Month Interim Filing

Bottom line

GE Vernova Inc. delivered a stronger three-month performance across every headline line item in 10-Q period-ended-2026-03-31 (accession 0001996810-26-000064, CIK 0001996810, ticker GEV), with each top-line and bottom-line metric stepping up year over year on the period that closed in the three months ended March 31, 2026 versus the prior-year window of the three months ended March 31, 2025. Reported revenue moved to $9,339,000,000 USD in the three months ended March 31, 2026, up from $8,032,000,000 USD in the three months ended March 31, 2025. Operating income widened to $179,000,000 USD, a profit in both windows, versus $43,000,000 USD previously. Net income attributable to the parent rose to $4,745,000,000 USD from $254,000,000 USD, again a profit-to-profit move, and diluted earnings per share climbed to $17.44 per diluted share USD/SHARES from $0.91 per diluted share USD/SHARES. The earnings-per-share result is presented in the filing under the cited earnings-per-share note, alongside the basic and diluted share counts disclosed in Note 18.

Beyond the headline numbers, the filing under Item 7 provides the management commentary that frames the three-month period, and the underlying financial statements (referenced through Note 2 through the cited closing-equity and share-related notes, including Note 17) tie the reported earnings to the period-end balance sheet. Readers can place this quarter alongside peer reports such as the Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing to compare the profit-to-profit pattern in the same window.

- In Item 7 ("Management's Discussion and Analysis of Financial Condition and Results of Operations"), the company discusses the three-month results in narrative form; the cited section is the primary disclosure vehicle for management's view of the quarter, but specific drivers behind the year-over-year change are not separately enumerated in the quoted narrative provided to this section. - Forward-looking context, including language around the energy transition, demand, capacity, and cost-management efforts, is laid out in the cautionary statement that also references Item 1A and the company's investor website.

- Each metric moved in the same authorized direction (revenue, operating income, net income, and diluted EPS all increased), and each remained a profit rather than crossing into a loss, consistent with a profit-to-profit transition on the income statement. - The breadth of the move — top line, operating line, and per-share line all higher — indicates the gain was not concentrated in a single line.

- None identified within the quoted scope of 10-Q period-ended-2026-03-31 for the cited three-month period.

UNKNOWN: - The specific quantitative drivers behind the year-over-year change in revenue, operating income, net income, and diluted EPS are not separately itemized in the quoted narrative. The filing evidence does not attribute this change to any single cause. - A peer or industry benchmark for the same three-month window is not present in the cited scope. The filing evidence contains no peer or industry comparison.

Financial performance

- Revenue from Contract with Customer, Excluding Assessed Tax was $8,032,000,000 USD for the prior-year comparative three-month period and was $9,339,000,000 USD for the three-month reporting period the three months ended March 31, 2026, an increase from a positive base to a higher positive figure on the year-over-year window. - Operating Income (Loss) was $43,000,000 USD for the prior-year comparative three-month period and was $179,000,000 USD for the three-month reporting period, an increase from a profit to a higher profit, marking a profit-to-profit transition on the year-over-year window.

- Net Income (Loss) Attributable to Parent was $254,000,000 USD for the prior-year comparative three-month period and was $4,745,000,000 USD for the three-month reporting period, an increase from a profit to a higher profit on the year-over-year window. 44 per diluted share USD/SHARES for the three-month reporting period, an increase from a positive base to a higher positive figure on the year-over-year window. S.

GAAP applied to unaudited consolidated interim financial statements prepared under SEC interim-reporting rules, as described in the cited note covering the basis of presentation, with intercompany balances eliminated and certain prior-year amounts reclassified to conform to the current year's presentation, so any cross-period comparison should be read against that reclassification rather than as a clean like-for-like view. - The cited segment structure reflects the post-realignment Power, Electrification, and Wind segments with the Steam business unit split into Nuclear, Hydro, and Gas Power, the Electrification Software component partly realigned into Gas Power, Grid Solutions reorganized into Power Transmission, Grid Systems Integration, and Grid Automation & Software, and Onshore Wind combined with LM Wind Power into Onshore Wind, a reorganisation described in the cited Item Seven narrative; year-over-year comparisons are presented on this new structure and therefore inherit any realignment effect.

- Estimates are described by management as assumptions about current and expected future economic and market conditions, with the cited Item Seven noting it is reasonably possible that actual conditions could differ from expectations and materially affect results, so reported figures should be treated as estimate-sensitive interim measurements rather than final audited outcomes. - No peer or industry benchmark is presented in the filing evidence, so any external comparison requires the reader to source a separate dataset.

- The filing evidence does not attribute this change to any single cause. - Forward statements and outlook framing appear only as cautionary language around management's assumptions and estimates; the filing evidence does not contain a quantitative company-issued guidance range for the next quarter or the full year, so expectations are framed qualitatively only. - Readers comparing this interim result with other recent power-and-grid filings can cross-check the year-over-year profit-to-profit pattern against GE Vernova Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Filing to see how the same directional pattern is described in a separate window.

Operating drivers and segments

GE Vernova reports results across three business segments: Power, Electrification, and Wind. Power houses gas, nuclear, and hydro technologies, with Steam Power realigned into Nuclear Power, Hydro Power, and Gas Power. Electrification covers transmission, conversion, storage, and grid automation software, with the former Grid Solutions split into Power Transmission, Grid Systems Integration, and Grid Automation & Software; a piece of the prior Electrification Software unit moved into Grid Automation & Software, while another piece moved into Gas Power under Power.

Wind consolidates onshore and offshore turbines and blades, with Onshore Wind and LM Wind Power combined into a single Onshore Wind unit. Prolec GE net assets and results are included from the closing date and sit inside Electrification. Within the consolidated income statement for the three months ended March 31, 2026, the filing records Revenue from Contract with Customer, Excluding Assessed Tax of $9,339,000,000 USD and Operating Income (Loss) of $179,000,000 USD, both of which are higher than the prior-year comparative of $8,032,000,000 USD in revenue and $43,000,000 USD in operating income for the three months ended March 31, 2025.

Segment-level revenue, margin, cost, and backlog figures that would normally anchor a discussion of which business drove the consolidated move are not included in this section's evidence, so the segment contribution story is not stated here. Management's framing centres on a multi-segment portfolio positioned around the energy transition, with Power providing dispatchable generation, Electrification handling the transmission-to-consumption chain, and Wind supplying onshore and offshore turbines. The narrative lists a broad forward-looking agenda that touches anticipated growth, customer demand, capacity and efficiency gains, tariff impact estimates, cost management, tax incentives, customer orders and commitments, project execution, R&D and capital spending, sustainability targets, government policies, cash generation, the lean operating model, the capital allocation framework (organic and inorganic investments, share repurchases, and dividends), restructuring, and disputes and governmental proceedings.

The filing also describes realignments that are themselves a management-driven change in how the segment results will be reported going forward: the Steam Power split, the Electrification reorganisation, and the Onshore Wind consolidation, plus the inclusion of Prolec GE. No specific quantification is provided in the quoted narrative that attributes the quarter's higher revenue or higher operating income to a particular segment, product, region, customer, or cost action. - The Power, Electrification, and Wind segments are realigned during the period in ways that affect how future results will be presented, including the Steam Power split into Nuclear, Hydro, and Gas Power; the Grid Solutions reorganisation; the Onshore Wind and LM Wind Power combination; and the partial moves of former Electrification Software components into Grid Automation & Software and Gas Power.

- Prolec GE is folded into the Electrification segment from the closing date, adding to the assets and earnings base that future segment commentary will reference. - Inventories include deferred inventory costs tied to shipped goods such as wind turbine components in Wind and to labour and overhead on time-and-material service contracts primarily in Power, with revenue recognition criteria not yet met for those deferrals. - The Item 7 MD&A section is the canonical location for management's segment commentary and is referenced for any expansion of the driver narrative.

The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison. A comparative anchor for the same income-statement lines at a peer can be reviewed in Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, though no peer-level comparison is drawn inside this analysis.

Cash flow and capital

Reported facts - Operating activities continued to generate cash for GE Vernova Inc. during the three months ended March 31, 2026, with Net Cash Provided by Operating Activities reported at $5,188,000,000 USD, higher than the prior-year comparable of $1,161,000,000 USD for the three months ended March 31, 2025. - Investing activities used cash in both windows: Net Cash Provided by (Used in) Investing Activities was a use of -$4,291,000,000 USD for the three months ended March 31, 2026, smaller in magnitude than the use of -$93,000,000 USD recorded in the three months ended March 31, 2025. - Financing activities flipped sign year over year. Net Cash Provided by (Used in) Financing Activities was a source of $442,000,000 USD in the three months ended March 31, 2026, compared with a use of -$1,257,000,000 USD in the three months ended March 31, 2025. - Capital returns intensified on both lines. Payments for Repurchase of Common Stock rose to $1,278,000,000 USD in the three months ended March 31, 2026, above the $1,101,000,000 USD posted in the three months ended March 31, 2025. Payments of Dividends increased to $137,000,000 USD from $69,000,000 USD a year earlier. - Working-capital lines disclosed at the balance sheet date of March 31, 2026 show Accounts Receivable, before Allowance for Credit Loss, Current at $7,357,000,000 USD, Accounts Payable, Trade, Current at $6,333,000,000 USD, and Accounts Payable and Other Accrued Liabilities, Current at $9,572,000,000 USD.

Management explanations - Management frames interim results around realigned reporting, noting that Steam Power was split into Nuclear Power, Hydro Power, and Gas Power; Grid Solutions was reorganized into Power Transmission, Grid Systems Integration, and Grid Automation & Software; and Onshore Wind absorbed LM Wind Power, all reflected in the historical figures presented. - The narrative also flags two completed dispositions during the quarter — Proficy within Grid Automation & Software, and Linden VFT LLC within Gas Power — with cash proceeds subject to working-capital and post-close adjustments, alongside the Prolec GE transformer acquisition that is reported within the Electrification segment from February of the reporting year.

Analyst inference - The trio of higher operating cash, a smaller investing outflow, and a swing in financing toward a source is consistent with a period of stronger internal cash generation funding both organic investment and elevated returns to shareholders, rather than relying on external borrowing or new debt issuance to bridge a gap. - Rising dividend payments alongside larger share repurchases imply a deliberate reordering of capital allocation toward direct shareholder returns, layered on top of the Prolec GE acquisition and ongoing capacity spend implied by the investing outflow.

Counter-evidence - The financing line's swing to a source does not by itself identify the instrument mix; the filing also describes routine sales of current and long-term receivables to third parties for customer, sales-facilitating, or risk-mitigation reasons, which can independently affect the financing-versus-operating cash split.

Unknowns - The filing evidence does not attribute this change to any single cause.. - The filing evidence contains no peer or industry comparison..

Cross-reference note: a parallel pattern of higher revenue, operating income, net income, and diluted EPS year-over-year in this same interim filing is documented in the companion piece GE Vernova Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Filing, which frames the earnings backdrop against which these cash-flow and capital-return moves should be read.

Peer and historical context

Looking at GE Vernova Inc.'s year-over-year trajectory in the 10-Q for period-ended-2026-03-31 (accession 0001996810-26-000064), the directional shape of the current quarter against the three months ended March 31, 2025 is broadly constructive across the four headline dimensions. $9,339,000,000 exceeded $8,032,000,000, indicating the top line kept expanding on a year-over-year basis. Operating performance followed the same pattern: $179,000,000 came in above $43,000,000, a profit-to-profit move rather than a swing in or out of profitability. Net result held the same shape, with $4,745,000,000 higher than $254,000,000. Even the cash engine strengthened, as $5,188,000,000 improved relative to $1,161,000,000. Read together, the four windows describe a quarter where the operating business is doing more of everything — more sales, more operating profit, more bottom-line profit, and more cash from operations — than it did in the prior-year window.

The filing evidence contains no peer or industry comparison. The filing evidence does not attribute this change to any single cause.

The earnings narrative around GE Vernova Inc. sits inside the 10-Q discussion of Item 7, which frames the three months ending the three months ended March 31, 2026 against the three months ended March 31, 2025. The reported numbers themselves come from the consolidated statements, with revenue tied to customer-contract recognition, operating performance flowing through segment results, and net income captured for the parent. On top of that pattern, the filing notes two portfolio actions inside the first quarter of the three months ended March 31, 2026: the sale of the Proficy manufacturing software business within Grid Automation & Software, and the sale of the membership interests of Linden VFT LLC, a merchant transmission facility within Gas Power. Both transactions are described as generating net cash proceeds subject to customary working-capital and other post-close adjustments; neither is presented inside the filing as the lever behind the year-over-year change in revenue, operating income, net income, or operating cash flow.

The reader's working mental model — more revenue, more operating profit, more net income, more cash from operations than the prior year — is consistent with the directional profile of the four lines captured here. Whether the lift is broad-based across Power, Wind, and Electrification, or concentrated in any one segment, is not something this section's evidence can attribute. The filing evidence does not attribute this change to any single cause. For the same reason, no statement is offered about how the Prolec GE acquisition, the deferred-inventory-cost mechanics discussed in Note 4, or the contract-and-deferred-cost balances captured in Note 8 and Note 12 shaped the gap. Any peer-based benchmark — versus other names in the power-and-electrification complex — is also not part of the record here.

Readers comparing this story with broader sector quarters may want to cross-check the directional pattern against another contemporaneous power-equipment filing, such as the insight on ONEOK Posts Higher Revenue, Operating Income, Net Income and Diluted EPS Year-Over-Year in Interim Filing, to triangulate whether the year-over-year lift is an industry-wide tone or specific to GE Vernova Inc.. Historical look-back across multiple quarters, however, is not present in the filing for this section.

Scenario analysis

GE Vernova's base case for the three-month reporting period rests on the read across both top-line and bottom-line. Revenue from Contract with Customer, Excluding Assessed Tax was $9,339,000,000 USD for the three months ended March 31, 2026, compared with $8,032,000,000 USD for the three months ended March 31, 2025, which the authorized year-over-year comparison frames as higher than the prior period. Net Income (Loss) Attributable to Parent likewise moved higher, registering $4,745,000,000 USD against $254,000,000 USD, with the authorized transition reading profit to profit. The filing evidence does not attribute this change to any single cause. Outside that directional scaffolding, the filing's narrative supplies M&A texture rather than mechanical drivers: the Prolec GE transformer acquisition is now consolidated within the Electrification segment from the cited closing date, the Proficy software business was divested inside Grid Automation & Software, and the Linden VFT merchant transmission asset was sold inside Gas Power. Each event generates discrete accounting consequences — a remeasurement gain on the previously held equity interest, intangible assets recognized at preliminary fair value, goodwill reflecting assembled workforce and synergy expectations, and step-up amortization flowing through cost of sales and operating expense — that the base case absorbs as ongoing cost shape rather than as one-off noise.

The upside scenario leans on the same two readings becoming more decisive. A continuation of higher revenue against the prior-year comparative, paired with net income that remains in profit territory and grows at a faster pace, would mark an operating leverage outcome, supported by the fact that the transformer acquisition is positioned to deepen the company's North American transformer market reach. The filing evidence does not attribute this change to any single cause. Inventory disclosures point to deferred inventory costs tied to wind turbine components and Power segment time-and-material service contracts, which can swing both ways depending on when revenue recognition criteria are satisfied; if recognition pulls forward more aggressively than the base case assumes, the combination of a broader Electrification footprint, intact Wind backlog conversion, and Power services execution could compress the gap to even stronger year-over-year results.

The downside scenario pivots on the inherent volatility the filing already flags. Purchase accounting for Prolec GE remains preliminary and is described as likely to change in future reporting periods, which means intangible amortization, goodwill, and contingent consideration could move unfavorably between the current reporting period and the next without any change in underlying operating activity. The filing evidence does not attribute this change to any single cause. Deferred inventory costs and the time-and-material service contract overhang suggest revenue could remain lumpy if shipment timing slips, and any further portfolio reshaping beyond the Proficy and Linden VFT transactions would add noise. If the directional read on the top line flattens or reverses relative to the prior period — while net income still trends higher in dollar terms — the operating leverage story weakens and the favorable narrative around the Electrification integration becomes harder to sustain. The filing evidence contains no peer or industry comparison.

Risks and what to watch

- The filing is a 10-Q for GE Vernova Inc. covering the three-month period the three months ended March 31, 2026, filed under accession 0001996810-26-000064 and identified by CIK 0001996810 with ticker GEV. The Item 1A risk-factor discussion appears under Item 1A, and the forward-looking statement legend appears under Item 6; readers comparing future periods should track any new risk language added or removed between filings.

- Reported figures: Revenue from Contract with Customer, Excluding Assessed Tax was $9,339,000,000 USD for the three months ended the three months ended March 31, 2026 and was $8,032,000,000 USD for the prior-year three months ended the three months ended March 31, 2025. The authorized comparison is "increase" — current higher than the prior — so the year-over-year direction is positive. - Reported figures: Net Income (Loss) Attributable to Parent was $4,745,000,000 USD for the three months ended March 31, 2026 and $254,000,000 USD for the three months ended March 31, 2025.

The authorized comparison is "increase" with a "profit to profit" transition, so both periods are profitable and the current quarter is higher. - The standalone causal reading: The filing evidence does not attribute this change to any single cause.. The filing evidence does not attribute this change to any single cause.

- Counter-evidence to monitor: the Item 1A risk-factor block is the section where management would flag anything that could push next quarter's revenue or net income off trend. Any new or expanded risk language around supply chain, transformer capacity, wind installation timing, or grid investment cycles would qualify as counter-evidence. The acquisition of Prolec GE, disclosed under the cited note covering Note 6 goodwill and intangibles and Note 8 intangibles – net, is a fresh variable: the preliminary purchase price allocation and weighted-average useful lives for customer-related, patents and technology, capitalized software, and trademarks intangibles are preliminary, and the post-closing procedures must be completed no later than the first quarter of the year following acquisition.

Re-measurement of the previously held equity interest, inventory step-up amortization, intangible amortization, integration costs, and acquisition-related costs are all flowing through the current three-month results, so next period's print will carry a cleaner run-rate view once the initial liquefaction phase of integration completes. - Cross-reference: the Note 18 earnings-per-share block, the Note 16 net income reconciliation, and the Note 17 equity rollforward (including the noncontrolling-interest line) are the linked tables a reader should re-read in the next filing to confirm whether the authorized direction holds.

A useful pattern-comparison point is GE Vernova Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Filing, which frames the longer-window view of the same reporter. - Unknowns the next filing should resolve: the final purchase-accounting allocation for the transformer acquisition, any change in the Item 1A risk-factor inventory, the Note 19 income-tax provision trajectory, and whether the authorized year-over-year "increase" direction repeats in the next three-month window.

- Peer framing: The filing evidence contains no peer or industry comparison.. The filing evidence contains no peer or industry comparison. - Metrics to watch next period: revenue direction versus the current $9,339,000,000 print, net income direction versus $4,745,000,000, the diluted EPS movement from the Note 18 reconciliation, operating cash flow direction, and any update to the Item 3 market-risk disclosures.