GE Vernova (GEV) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and GE Vernova published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• GE Vernova reports no adjusted EPS; its main non-GAAP profit measure is adjusted EBITDA. Asterisks in the quoted guidance mark GE Vernova's non-GAAP measures.
• GE Vernova bought the remaining 50% of Prolec GE in the first quarter of 2026 and now consolidates it in Electrification. Effective January 1, 2026, it realigned certain business units within Power, Electrification and Wind.
• Net income is the figure attributable to GE Vernova. Segment rows are before intersegment eliminations; the eliminations row reconciles them to total revenue.

Source: GE Vernova Q3 2026 results (Form 8-K, Exhibit 99), October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How GE Vernova splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• GE Vernova's Power revenue was $6.1 billion in Q3 2026, up 25% from $4.9 billion in Q3 2025, 48% of total revenue.
• GE Vernova's Electrification revenue was $3.9 billion in Q3 2026, up 51% from $2.6 billion in Q3 2025, 31% of total revenue.
• GE Vernova's Wind revenue was $2.7 billion in Q3 2026, up 4% from $2.6 billion in Q3 2025, 22% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, GE Vernova said:

“GE Vernova is raising its 2026 financial guidance and now expects revenue of $46.5-$47.5 billion, up from $45.5-$46.5 billion, adjusted EBITDA margin* of 13.5%-14.5%, up from 12%-14%, and free cash flow* of $16-$17 billion, up from $11.5-$12.5 billion.”

“Power: 19%-21% organic revenue* growth, up from 18%-20%, and 19%-21% segment EBITDA margin, up from 17%-19%.”

“Electrification: Revenue of $14.5-$15.0 billion, including approximately $3.1 billion from Prolec GE, and 18%-20% segment EBITDA margin, now trending toward the higher end of the range.”

“Wind: Organic revenue* down mid-single digits, versus prior guidance of down low-double digits, and $400-$500 million of segment EBITDA losses, versus prior guidance of approximately $400 million of segment EBITDA losses.”

Source: GE Vernova Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the GEV forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Q4 2025 EPS includes a $2.9 billion tax benefit from a U.S. valuation allowance release; Q1 2026 EPS includes a $3,992 million pre-tax gain on remeasuring GE Vernova's previously held stake in Prolec GE.

GE Vernova's next report is scheduled for January 27, 2027. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

GE Vernova has three segments. In Q3 2026 Power brought in $6,067 million, Electrification $3,862 million and Wind $2,741 million, for total revenue of $12,642 million, up 27%, or 18% organically. Equipment revenue was $8,340 million, up 42%, and services revenue $4,302 million, up 5%. (GE Vernova Q3 2026 release, Oct 28, 2026)

Inside Power, Gas Power revenue was $5,117 million, against $3,948 million a year earlier, with Nuclear Power at $719 million and Hydro Power at $231 million. GE Vernova said Power revenue was led by aeroderivative and heavy-duty deliveries and favorable price. Power orders of $21,780 million were up 178% organically, including 55 heavy-duty units, among them 21 HA turbines, and 57 aeroderivative turbines. (GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026; GE Vernova Q3 2026 release, Oct 28, 2026)

Electrification revenue rose 51%, or 16% organically. Acquisitions added $945 million, mostly Prolec GE, which GE Vernova now consolidates after buying the remaining 50% stake in the first quarter of 2026. Power Transmission revenue was $1,868 million, against $811 million, and Grid Systems Integration $1,002 million, against $677 million. (GE Vernova Q3 2026 release, Oct 28, 2026; GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026)

Wind revenue rose 4% to $2,741 million. Onshore Wind was $2,468 million and Offshore Wind $273 million; higher Onshore Wind services and Offshore Wind revenue were partially offset by fewer Onshore Wind equipment deliveries. Wind segment EBITDA was $72 million, against a loss of $61 million. (GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026; GE Vernova Q3 2026 release, Oct 28, 2026)

GE Vernova's remaining performance obligation was $196,721 million at September 30, 2026: $104,054 million of equipment, of which 33% is expected to be recognized within 1 year, and $92,667 million of services. Gas Power equipment backlog and slot reservation agreements grew from 116 to 122 GW in the quarter. (GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026; GE Vernova Q3 2026 release, Oct 28, 2026)

GE Vernova reports GAAP EPS only. Diluted EPS was $4.81 in Q3 2026, against $1.64, on net income attributable to GE Vernova of $1,291 million, against $452 million. Adjusted EBITDA rose to $1,943 million from $811 million as segment EBITDA margins widened, which GE Vernova attributed to higher price and volume along with productivity. Depreciation and amortization rose to $439 million from $212 million. (GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026; GE Vernova Q3 2026 release, Oct 28, 2026)

Gains on purchases and sales of business interests were $36 million in the quarter, against $4,481 million for the first nine months of 2026, which included a $3,992 million pre-tax gain from remeasuring GE Vernova's previously held Prolec GE stake to fair value. The Q3 2026 effective tax rate was 27.7%, above the 21% U.S. statutory rate, which GE Vernova attributed mainly to losses that provide no tax benefit in certain jurisdictions. (GE Vernova Q3 2026 release, Oct 28, 2026; GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted weighted average shares were 268 million, against 275 million a year earlier. GE Vernova repurchased approximately 1.7 million shares for $1.6 billion in the quarter, and in October 2026 its board raised the repurchase authorization to $20 billion, from $10 billion. (GE Vernova Form 10-Q, Q3 2026, Oct 28, 2026; GE Vernova Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

GE Vernova gives full-year guidance in its release for revenue, adjusted EBITDA margin and free cash flow, plus targets by segment. With Q3 2026 results it raised 2026 revenue guidance to $46.5 to $47.5 billion, adjusted EBITDA margin to 13.5% to 14.5% and free cash flow to $16 to $17 billion. It gives no EPS guidance. (GE Vernova Q3 2026 release, Oct 28, 2026)

By segment, GE Vernova now expects Power organic revenue growth of 19% to 21%, Electrification revenue of $14.5 to $15.0 billion including approximately $3.1 billion from Prolec GE, and Wind segment EBITDA losses of $400 to $500 million. Its CEO said GE Vernova expects backlog to exceed $200 billion in the fourth quarter and to exit 2026 with at least 130 GW of gas equipment under contract. (GE Vernova Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover GE Vernova, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones GE Vernova's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning GEV is on is GEV a buy or a sell?, what analysts expect next is on the GEV forecast, and what the company does is on the GE Vernova (GEV) stock page.

Every number on this page can be traced to a document GE Vernova published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.