GE Vernova Q2: revenue +22%, operating income +73%, as $5.3B Prolec GE buy adds capacity

Filed July 22, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 23, 2025 · ~2 min read

Key Changes

• high

  Acquired remaining 50% of Prolec GE for $5.3B cash, consolidating a North American transformer leader with ~10,000 employees and seven manufacturing sites; remeasurement of prior equity stake generated $4.0B pre-tax gain.

  Notes: Prolec GE acquisition verify on EDGAR →
• high

  Six-month free cash flow surged to $9.9B from $1.2B, driven by $11.8B higher contract liabilities (customer down payments and slot reservations at Power and Electrification) and $1.0B higher adjusted net income.

  MD&A: Free cash flow verify on EDGAR →
• high

  Remaining performance obligation (RPO) reached $176.3B, up $47.6B (37%) year-over-year, driven by Gas Power equipment/services orders, Nuclear Power services growth, Prolec GE consolidation, and Electrification demand for switchgear and transformers.

  MD&A: RPO verify on EDGAR →