The earnings call indicates a strong start to 2025 with significant growth in orders, revenue, and free cash flow. The company is effectively expanding margins and maintaining robust demand in power and electrification segments. However, challenges arise from tariffs, inflation, and a sluggish wind market, particularly in offshore wind, which could impact future financials if not mitigated. Despite these challenges, the overall outlook remains positive with a focus on strategic actions to address cost pressures.

Company Guidance

In the first quarter of 2025, GE Vernova reaffirmed its financial guidance amid a dynamic market environment, projecting revenue between $36 billion and $37 billion and adjusted EBITDA margin expansion to high single digits for the year. The company anticipates free cash flow of $2 billion to $2.5 billion, despite expecting $300 to $400 million in cost pressures from tariffs and inflation. Mitigation strategies include pricing actions and accelerating G&A cost structure transformation. Notably, the equipment backlog grew by $2.4 billion, and the services backlog increased by $2 billion, leading to a total backlog of $123 billion. The company expects to maintain a robust order pipeline with over 60 gigawatts between backlog and reservation agreements by the end of 2025.

Strong Equipment and Services Backlog Growth

Sequential equipment backlog grew by $2.4 billion and services backlog by $2 billion, totaling a $123 billion backlog, indicating strong long-term growth potential.

Significant Free Cash Flow Improvement

Generated $1 billion in free cash flow, an improvement of $1.6 billion year over year due to strong down payments and working capital management.

Robust Orders and Revenue Growth

Booked $10.2 billion of orders, an 8% increase year over year, with revenue increasing by 15% supported by higher equipment and services revenues across all segments.

Margin Expansion Across Segments

Adjusted EBITDA increased nearly 70% to $1.7 billion, with margin expanding 170 basis points. Notably, electrification segment expanded margin by 680 basis points.

Positive Outlook for Power Segment

Power segment orders grew 28%, led by equipment and services strength, with a significant EBITDA margin expansion of 70 basis points to 11.5%.

Electrification Segment Demand and Growth

Orders remained strong at approximately $3.4 billion, driven by grid equipment demand, contributing to an 18% revenue increase.

Shareholder Returns and Strong Balance Sheet

Returned $1.5 billion of capital to shareholders, repurchasing approximately 5 million shares, ending with a healthy cash balance of $8.1 billion.

---

GE Vernova Inc. (GEV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

GEV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 23, 2025	2025 (Q2)	1.41 / -	0.081	―	―	―
Apr 23, 2025	2025 (Q1)	0.47 / 1.07	-0.41	361.95% (+1.48)
Jan 22, 2025	2024 (Q4)	2.28 / 0.81	1.7	-52.41% (-0.89)
Oct 23, 2024	2024 (Q3)	0.19 / -0.16	-0.62	74.35% (+0.46)
Jul 24, 2024	2024 (Q2)	0.74 / 0.08	-0.547	114.81% (+0.63)
Apr 25, 2024	2024 (Q1)	-0.48 / -0.41	-1.149	64.32% (+0.74)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

GEV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 23, 2025	$326.07	$336.09	+3.07%
Jan 22, 2025	$415.68	$426.77	+2.67%
Oct 23, 2024	$276.00	$279.46	+1.25%
Jul 24, 2024	$170.23	$162.65	-4.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---