Filing Flows › GE Vernova (GEV) › Q1 2025
GE Vernova (GEV) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 23, 2025
GE Vernova (GEV) reported revenue of $8.0B for the first quarter 2025 (Q1 2025), +11% from a year earlier and -24% from the quarter before. Operating margin was 0.5%, net earnings $254M (3.2% of revenue).
GE Vernova, Q1 2025: revenue $8.0B (+11% year over year), operating margin 0.5%, net earnings $254M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.0B | -24% | +11% |
| Gross profit | $1.5B | -31% | +28% |
| Operating profit | $43.0M | -93% | — |
| Net earnings | $254M | -48% | — |
| Operating cash flow | $1.2B | +26% | — |
| Free cash flow | $975M | +71% | — |
What changed
Revenue was $8.0B in Q1 2025, up 11% year over year and down 24% from the previous quarter. Equipment was the largest line at 52% of revenue. Equipment added $0.58B year over year (up 16%), 75% of the total change.
Gross margin was 18.3%, up 2.5 points from a year earlier. Operating profit was $0.04B, a 0.5% margin (up 4.5 points year over year). Operating expenses fell 1% while revenue rose 11%. Net earnings were $0.25B. The effective tax rate was 20.5%. Non-operating items added $0.29B, 87% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.2B, 440% of net income including minority interests. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items added $0.69B. Capital expenditures of $0.19B left free cash flow of $1.0B.
Questions
What was GE Vernova's revenue in the first quarter 2025?
GE Vernova (GEV) reported revenue of $8.0B for the first quarter 2025 (Q1 2025), +11% from a year earlier and -24% from the quarter before.
Was GE Vernova profitable in the first quarter 2025?
Operating profit was $43.0M (0.5% of revenue) and net earnings $254M.
Source: GE Vernova 10-Q on SEC EDGAR.