GE Vernova Q1 FY26: where the revenue came from and where it went
The whole income statement of GE Vernova for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 22, 2026
Revenue$9.34B
+16% year over year
Gross profit$1.78B
19% margin
Operating profit$0.18B
2% margin
Net profit$4.75B
51% margin
Net profit is larger than what operations earned, because the statement adds $4.92B below it, under Other income, net.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 9.34 | 100% | +16% |
| Gas power | 4.07 | 44% | |
| Wind | 1.43 | 15% | |
| Power transmission | 1.38 | 15% | |
| Nuclear power | 0.76 | 8% | |
| Grid systems integration | 0.69 | 7% | |
| Conversion & storage | 0.48 | 5% | |
| Automation & software | 0.41 | 4% | |
| Hydro power | 0.15 | 2% | |
| Cost of revenue | −7.56 | 81% | |
| Gross profit | 1.78 | 19% margin | +1pp |
| R&D | −0.30 | 3% | +0pp |
| SG&A | −1.30 | 14% | −1pp |
| Operating profit | 0.18 | 2% margin | +1pp |
| Other income, net | 4.92 | ||
| Tax | −0.35 | ||
| Net profit | 4.75 | 51% margin | +48pp |
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