GE Vernova (GEV) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 22, 2026 astatine 8:19 AM CDT 43 min read

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Wednesday, April 22, 2026 astatine 7:30 a.m. ET

• Chief Executive Officer — Scott L. Strazik

• Chief Financial Officer — Kenneth S. Parks

• Vice President, Investor Relations — Michael Jay Lapides

Michael Jay Lapides: Thank you. Welcome to GE Vernova Inc.'s archetypal 4th 2026 net call. I americium joined contiguous by our CEO, Scott L. Strazik, and CFO, Kenneth S. Parks. Our league telephone remarks volition see some GAAP and non-GAAP fiscal results. Reconciliations betwixt GAAP and non-GAAP measures tin beryllium recovered successful today’s Form 10-Q, property release, and presumption slides, each of which are disposable connected our website. Please enactment that unless different specified, our year-over-year commentary oregon variances connected orders, revenue, adjusted and conception EBITDA and borderline discussed during our prepared remarks are connected an integrated basis, which includes the removal of the interaction of our Prolec GE acquisition.

In addition, we realigned the reporting of definite concern units to bespeak however we are managing the company. Notably successful Power, we integrated the Steam concern chiefly into our Nuclear business. In Electrification, we realigned the conception into 4 chiseled concern units to supply investors with greater visibility. This included revising our erstwhile Grid Solutions and Electrification Software concern units into 3 abstracted concern units: Power Transmission, Grid Systems Integration, and Grid Automation and Software. A information of our Electrification Software was besides moved to Gas Power. Finally, successful Wind, we simplified our reporting by integrating LM Wind into Onshore Wind. These changes are reflected successful our archetypal 4th 2026 10-Q and passim our descent deck.

We person posted a fiscal supplement connected our IR website reflecting our realigned 2025 conception results, and delight note, determination were nary changes to our 2025 full institution results. We volition marque forward-looking statements astir our performance. These statements are based connected however we spot things today. While we whitethorn elite to update these forward-looking statements astatine immoderate constituent successful the future, we bash not undertake immoderate work to bash so. As described successful our SEC filings, existent results whitethorn disagree materially owed to risks and uncertainties. With that, I volition manus the telephone implicit to Scott.

Scott L. Strazik: Thank you, Michael. Good morning, and invited to GE Vernova Inc.'s Q1 2026 net call. We person had a coagulated commencement to 2026. As planetary electrification accelerates, the structural drivers underpinning request for our solutions proceed to strengthen. The maturation is conscionable starting, and determination is nary institution amended positioned to service and alteration the planetary energy strategy than GE Vernova Inc. Since our spin, we launched with a $116 cardinal backlog. We person grown this backlog to $163 cardinal with an 80% summation successful our instrumentality backlog astatine considerably amended margins.