季報
季度報告
10-Q
2026-07-22
GE Vernova 第二季收入111億美元增22% 淨利潤6.68億美元 每股盈利2.47美元
AI 繁中摘要
GE Vernova 公布 2026 年第二季業績(10-Q)📊
截至 2026 年 6 月 30 日止第二季度,GE Vernova 收入為 111.04 億美元(按年增長 22%),其中設備銷售 64.59 億美元,服務收入 46.45 億美元。毛利 23.60 億美元(毛利率 21.3%),經營溢利 6.53 億美元。淨利潤 6.68 億美元(2025 年同期為 5.14 億美元),每股攤薄盈利 2.47 美元(去年同期 1.86 美元)。上半年累計收入 204.42 億美元,淨利潤 54.13 億美元,當中包括收購 Prolec GE 帶來的一次性收益。
核心亮點:
- ✅ 完成收購 Prolec GE 剩餘 50% 股權(2 月 2 日),現金代價 52.54 億美元,並將此前持有的權益重新計量公允價值,錄得税前收益 39.92 億美元,計入其他收入。
- ✅ 出售 Proficy 工業軟件業務及 Linden VFT LLC,分別獲得淨現金 5.98 億美元及 1.38 億美元,確認税前收益合共 3.31 億美元。
- ✅ 經營現金流表現強勁:上半年經營活動現金流 106.80 億美元(2025 年同期為 15.28 億美元),主要受合約負債增加及 pension 計劃貢獻帶動。
- ✅ 資本回報:上半年回購 36.72 億美元普通股,並派發每股 1.00 美元股息(合共 2.71 億美元)。
- ✅ 資產負債表穩健:截至季末現金及等值物 131.20 億美元,總負債 676.85 億美元,總權益 131.15 億美元。
業務分部概覽(上半年):
- Power 收入 95.22 億美元(按年增長 14%),經營溢利 10.42 億美元。
- Electrification 收入 86.85 億美元(按年增長 45%),經營溢利 6.50 億美元,受惠於 Prolec GE 併入。
- Wind 收入 21.92 億美元(按年增長 4%),經營虧損擴大至 5.93 億美元,主要受 Onshore Wind 項目成本影響。
管理層展望:
公司繼續專注於能源轉型,透過擴大北美變壓器產能及強化燃氣、核電服務業務提升競爭
展開英文正文
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-41966 GE Vernova Inc. (Exact name of registrant as specified in its charter) Delaware 92-2646542 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 58 Charles Street, Cambridge, MA 02141 (Address of principal executive offices) (Zip Code) (617) 674-7555 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share GEV New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑ There were 266,333,581 shares of common stock with a par value of $0.01 per share outstanding at June 30, 2026. TABLE OF CONTENTS Page Forward-Looking Statements 3 About GE Vernova 4 Part I 5 Item 1. Financial Statements and Supplementary Data 5 Consolidated Statement of Income (Loss) 5 Consolidated Statement of Financial Position 6 Consolidated Statement of Cash Flows 7 Consolidated Statement of Comprehensive Income (Loss) 8 Consolidated Statement of Changes in Equity 9 Note 1 Organization and Basis of Presentation 11 Note 2 Summary of Significant Accounting Policies 11 Note 3 Assets and Liabilities Held for Sale 11 Note 4 Current and Long-Term Receivables 12 Note 5 Inventories, Including Deferred Inventory Costs 12 Note 6 Property, Plant, and Equipment 12 Note 7 Leases 13 Note 8 Acquisitions, Goodwill, and Other Intangible Assets 13 Note 9 Contract and Other Deferred Assets & Contract Liabilities and Deferred Income 14 Note 10 Current and All Other Assets 15 Note 11 Equity Method Investments 15 Note 12 Accounts Payable and Equipment Project Payables 15 Note 13 Postretirement Benefit Plans 15 Note 14 Long-term Borrowings 16 Note 15 Current and All Other Liabilities 17 Note 16 Income Taxes 17 Note 17 Accumulated Other Comprehensive Income (Loss) (AOCI) and Common Stock 17 Note 18 Earnings Per Share Information 18 Note 19 Other Income (Expense) – Net 18 Note 20 Financial Instruments 18 Note 21 Variable Interest Entities (VIEs) 20 Note 22 Commitments, Guarantees, Product Warranties, and Other Loss Contingencies 20 Note 23 Restructuring Charges and Separation Costs 21 Note 24 Segment Information 22 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3. Quantitative and Qualitative Disclosures About Market Risk 37 Item 4. Controls and Procedures 37 Part II 38 Item 1. Legal Proceedings 38 Item 1A. Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39 Signatures 40 2026 2Q FORM 10-Q 3 FORWARD-LOOKING STATEMENTS. This quarterly report of GE Vernova Inc. (the Company, GE Vernova, our, we, or us) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “guidance”, “outlook”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may”, and negatives or derivatives of these or similar expressions. These forward-looking statements may include, among others, statements about our future performance, anticipated growth, and expectations in our business; the energy transition; the demand for our products and services; our technologies and ability to innovate, anticipate, and address customer demands; our ability to increase production capacity, efficiencies, and quality; our underwriting and risk management; the estimated impact of tariffs; our product quality and costs; our cost management efforts; tax incentives; customer orders and commitments; project execution and timelines; our actual and planned investments, including in research and development, capital expenditures, joint ventures, and other collaborations with third parties; our ability to meet our sustainability goals and targets; levels of global infrastructure spending; government policies; our expected cash generation and management; our lean operating model; our capital allocation framework, including organic and inorganic investments, share repurchases, and dividends; our restructuring programs; disputes, litigation, arbitration, and governmental proceedings involving us; the sufficiency and expected uses of our cash, liquidity, and financing arrangements; and our credit ratings. Forward-looking statements reflect our current expectations, are based on judgments and assumptions, are inherently uncertain, and are subject to risks, uncertainties, and other factors, which could cause our actual results, performance, or achievements to differ materially from current expectations. Some of the risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by forward-looking statements include the following: •Quality issues or safety failures among our products, solutions, or services; •Significant supply chain or logistics disruptions, including cost or availability of materials or components; •Disruptions or capacity constraints at our manufacturing or operating facilities; •Our ability to manage our costs and achieve anticipated cost savings; •Our ability to execute and estimate long-term service obligations; •Our ability to successfully compete; •Our ability to innovate and successfully commercialize new technologies and manage our product cycles; •Achieving expected benefits from strategic transactions, joint ventures, and other third-party collaborations; •Issues with grid connectivity or our customers’ ability to sell generated electricity; •Our ability to manage customer and counterparty relationships and contracts; •Our ability to maintain our investment grade credit ratings; •Our access to capital or credit markets or other financing on acceptable terms; •Decarbonization and energy-transition dynamics; •Changes in energy, environmental, and tax laws and policies; •Challenges of operating globally, including complex legal, regulatory, and compliance risks; •Natural disasters, physical effects of climate change, pandemics, and other emergencies; •Geopolitical events; •Our ability to meet sustainability expectations, standards, and goals; •International trade policies; •Our ability to obtain, maintain, and comply with approvals, licenses, and permits; •Our ability to comply with laws and regulations and related compliance costs; •Impacts from claims, litigation, regulatory proceedings, and enforcement actions; •Our ability to attract and ret