GE Vernova books $4B gain on Prolec acquisition, issues $2.6B debt; Wind losses deepen

Filed April 22, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 23, 2025 · ~1 min read

Key Changes

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  Acquired remaining 50% of Prolec GE for $5.3B cash, generating $4.0B pre-tax gain from remeasuring prior equity stake. Transformer maker adds 10,000 employees and seven plants, funded by $2.6B senior notes across 2031/2036/2056 maturities.

  MD&A: Prolec GE acquisition verify on EDGAR →
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  Wind segment revenue fell 23% as Onshore deliveries declined and Offshore Wind losses widened to $(382)M from $(146)M. Vineyard Wind turbines now installed after federal lease pause, but claims negotiations ongoing with customer.

  MD&A: Wind segment performance verify on EDGAR →
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  Operating cash flow surged to $5.2B from $1.2B on $4.5B higher contract liabilities (customer down payments) at Power and Electrification. Free cash flow reached $4.8B versus $1.0B prior year.

  MD&A: Operating cash flow verify on EDGAR →