GE Vernova Inc. (GEV), an energy equipment manufacturing and services company, on Wednesday reported sharply higher earnings for the first quarter, driven mainly by a surge in gains from purchases and sales of business interests. The company also raised its full-year revenue outlook. Shares were up more than 3% in pre-market trading.
Net income rose to $4.750 billion or $17.44 per share from $264 million or $0.91 per share in the prior-year period.
Gains on purchases and sales of business interests increased to $4.494 billion from $19 million last year.
Excluding one-time items, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) rose to $896 million from $457 million a year ago.
Revenue grew 16% to $9.339 billion from $8.032 billion last year. Organic revenue rose 7% to $8.587 billion from $7.997 billion.
Orders increased 71% to $18.3 billion on an organic basis with growth across all segments.
Looking ahead, the company has raised its full-year revenue guidance to $44.5 billion to $45.5 billion from the prior range of $44 billion to $45 billion.
GE Vernova stock closed at $991.30 on Tuesday, up 0.11%.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.