Filing Flows › GE Vernova (GEV) › Q2 2025
GE Vernova (GEV) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 23, 2025
GE Vernova (GEV) reported revenue of $9.1B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +13% from the quarter before. Operating margin was 4.1%, net earnings $514M (5.6% of revenue).
GE Vernova, Q2 2025: revenue $9.1B (+11% year over year), operating margin 4.1%, net earnings $514M, operating cash flow $367M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.1B | +13% | +11% |
| Gross profit | $1.8B | +26% | +8% |
| Operating profit | $378M | +779% | -28% |
| Net earnings | $514M | +102% | -60% |
| Operating cash flow | $367M | -68% | -63% |
| Free cash flow | $194M | -80% | -76% |
What changed
Revenue was $9.1B in Q2 2025, up 11% year over year and up 13% from the previous quarter. Equipment was the largest line at 54% of revenue. Equipment added $0.70B year over year (up 17%), 77% of the total change.
Gross margin was 20.3%, down 0.5 points from a year earlier. Operating profit was $0.38B, a 4.1% margin (down 2.3 points year over year). Operating profit fell $0.15B even though revenue rose $0.91B versus a year earlier, so costs grew faster than sales. Operating expenses grew 25% against revenue growth of 11%. The fastest-growing cost line was SG&A (+26%). Net earnings were $0.51B, down 60% year over year ($0.49B including minority interests, which bore $0.02B of losses). The effective tax rate was 23.7%. Non-operating items added $0.27B, 41% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.37B (down 63% year over year), 75% of net income including minority interests. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items used $0.33B. Capital expenditures of $0.17B left free cash flow of $0.19B.
Questions
What was GE Vernova's revenue in the second quarter 2025?
GE Vernova (GEV) reported revenue of $9.1B for the second quarter 2025 (Q2 2025), +11% from a year earlier and +13% from the quarter before.
Was GE Vernova profitable in the second quarter 2025?
Operating profit was $378M (4.1% of revenue) and net earnings $514M.
Source: GE Vernova 10-Q on SEC EDGAR.