Filing Flows › GE Vernova (GEV) › Q3 2025
GE Vernova (GEV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 22, 2025
GE Vernova (GEV) reported revenue of $10.0B for the third quarter 2025 (Q3 2025), +12% from a year earlier and +9% from the quarter before. Operating margin was 3.7%, net earnings $452M (4.5% of revenue).
GE Vernova, Q3 2025: revenue $10.0B (+12% year over year), operating margin 3.7%, net earnings $452M, operating cash flow $980M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.0B | +9% | +12% |
| Gross profit | $1.9B | +3% | +71% |
| Operating profit | $366M | -3% | — |
| Net earnings | $452M | -12% | — |
| Operating cash flow | $980M | +167% | -13% |
| Free cash flow | $733M | +278% | -24% |
What changed
Revenue was $10.0B in Q3 2025, up 12% year over year and up 9% from the previous quarter. Equipment was the largest line at 59% of revenue. Equipment added $0.59B year over year (up 11%), 56% of the total change.
Gross margin was 19.0%, up 6.6 points from a year earlier. Operating profit was $0.37B, a 3.7% margin (up 7.7 points year over year). Operating expenses grew 4% against revenue growth of 12%. The fastest-growing cost line was Research & development (+28%). Net earnings were $0.45B. The effective tax rate was 39.3%. Non-operating items added $0.38B, 51% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.0B (down 13% year over year), 216% of net earnings. Non-cash charges added back $0.21B of depreciation and amortization. Working capital and other items added $0.31B. Capital expenditures of $0.25B left free cash flow of $0.73B.
Questions
What was GE Vernova's revenue in the third quarter 2025?
GE Vernova (GEV) reported revenue of $10.0B for the third quarter 2025 (Q3 2025), +12% from a year earlier and +9% from the quarter before.
Was GE Vernova profitable in the third quarter 2025?
Operating profit was $366M (3.7% of revenue) and net earnings $452M.
Source: GE Vernova 10-Q on SEC EDGAR.