GE Vernova Inc.

Company facts

Industry

Electronic & Other Electrical Equipment (No Computer Equip)

Headquarters

Cambridge, Massachusetts

Most recent report

10-Q, filed Oct 28, 2026

Incorporated

Delaware

Filings on record

211 filings

On EDGAR

CIK 1996810

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 12 sections worth reading, with 6 positive, 8 notable, and 2 negative flags.

• Financial Statements (Item 1)

  Major acquisition, debt issuance, huge cash flow swing, and large buyback all in one quarter.
  Notable

  • Issued $2.6B in new senior notes in Feb 2026 to partly fund the Prolec GE acquisition.
  • Net income of $6.7B for 9M 2026 includes a $3.99B non-cash gain from remeasuring the Prolec GE stake.
  Negative

  • IRS audit of GE's 2016-2020 returns could result in material, unestimable indemnification obligations for GE Vernova.

• Management's Discussion (Item 2)

  MD&A has many specific results and risks: cash flow surge, Wind losses, acquisitions, tariffs.
  Positive

  • RPO $196.7B, up 45% YoY and 31% from Dec 2025, driven by Power and Electrification demand.
  • Share repurchase authorization increased to $20B on Oct 28, 2026; $8.6B repurchased cumulatively.
  • Cash from operations $16.7B vs $2.5B for 9M 2026, a $14.2B increase from higher customer payments.
  • Fitch upgraded long-term rating to A- from BBB+ with Stable outlook on August 12, 2026.
  Notable

  • Agreed to buy Trench Group for ~€8B, funded equally cash and debt, expected close late 2027.
  • Prolec GE acquired for $5.2B cash; remeasurement gain of $4.0B recognized in Q1 2026.
  • Estimated tariff cost impact under $100M in 2026, but subject to significant uncertainty and many factors.
  • Effective tax rate 14.4% for 9M 2026, low due to $4.0B non-taxable gain on Prolec GE.
  Negative

  • Wind RPO fell 8% from Dec 2025 and 7% YoY, due to declining orders at Onshore and Offshore Wind.

• Unregistered Sales and Repurchases (Item 2)

  Buyback authorization doubled to $20B; $1.6B spent in Q3 2026.
  Positive

  • Buyback authorization doubled to $20B in Oct 2026, up from $10B in Dec 2025.
  • Spent $1,630M on buybacks in Q3 2026, repurchasing 1.7M shares at avg $948.72.

• Other Information (Item 5)

  €8.0B acquisition announced, funded half cash half debt, closing late 2027.
  Notable

  • No directors or officers adopted or terminated any trading arrangements in Q3 2026.
  • €8.0B acquisition of Trench Group, funded half cash half debt, closing late 2027.

What changed: Sep 2026 vs. Jun 2026

About 4% of GEV's Sep 2026 10-Q is new information. 13 paragraphs were added, 182 changed, and 26 removed. Below are the most important lines SECSift identified.

• Item 2 68
• Item 1 57
• Item 5 6
• Item 6 5
• Item 4 3
• Item 3 1