Filing Flows › GE Vernova (GEV) › Q2 2026 › vs Q2 2025
GE Vernova (GEV) Q2 2026 vs Q2 2025 (year over year)
GE Vernova's revenue rose $2.0B (+22%) from $9.1B in Q2 2025 to $11.1B in Q2 2026. The biggest changes: Equipment +$1.6B (+32%); Services +$428M (+10%). Gross margin 21.3% against 20.3% (+1.0 pts).
GE Vernova, Q2 2026: revenue $11.1B (+22% year over year), operating margin 5.9%, net earnings $668M, operating cash flow $5.5B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 21.3% | 20.3% | +1.0 pts |
| Operating margin | 5.9% | 4.1% | +1.7 pts |
| Net margin | 6.0% | 5.6% | +0.4 pts |
| Free cash flow margin | 46.0% | 2.1% | +43.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Equipment | $6.5B | $4.9B | $1.6B | +32% |
| Services | $4.6B | $4.2B | $428M | +10% |
| Revenue | $11.1B | $9.1B | $2.0B | +22% |
| Gross profit | $2.4B | $1.8B | $514M | +28% |
| Cost of revenue | $8.7B | $7.3B | $1.5B | +20% |
| Other income, net | $272M | $267M | $5.0M | +2% |
| Operating profit | $653M | $378M | $275M | +73% |
| Operating expenses | $1.7B | $1.5B | $239M | +16% |
| Pre-tax earnings | $925M | $645M | $280M | +43% |
| Research & development | $334M | $282M | $52.0M | +18% |
| SG&A | $1.4B | $1.2B | $187M | +16% |
| Loss borne by minority interests | $19.0M | $22.0M | −$3.0M | -14% |
| Net earnings | $668M | $514M | $154M | +30% |
| Income tax | $276M | $153M | $123M | +80% |
| Depreciation & amortization | $418M | $205M | $213M | +104% |
| Working capital & other | $4.4B | −$352M | $4.8B | — |
| Operating cash flow | $5.5B | $367M | $5.1B | 15× |
| Free cash flow (OCF − capex) | $5.1B | $194M | $4.9B | 26× |
| Capital expenditures | $386M | $173M | $213M | +123% |
Questions
How much did GE Vernova's revenue grow year over year in Q2 2026?
GE Vernova's revenue rose $2.0B (+22%) from $9.1B in Q2 2025 to $11.1B in Q2 2026.
What drove GE Vernova's revenue change in Q2 2026?
Equipment +$1.6B (+32%); Services +$428M (+10%).