On April 22, 2026, GE Vernova released its first-quarter financial report, which showed a substantial widening of losses and a notable decline in revenue in its wind power business, making it a major drag on the group’s overall performance.

The report revealed that the wind power business posted an earnings before interest, taxes, depreciation and amortization (EBITDA) loss of $382 million in Q1 2026, more than 1.6 times the $146 million loss in the same period last year. Its EBITDA margin fell to -26.7%, sharply lower than the -7.9% recorded a year earlier. Revenue from the wind power business reached $1.43 billion in the quarter, down 23% year-on-year.

The widening losses were mainly driven by three factors: lower deliveries of onshore wind equipment, rising tariff costs, and increased contract losses on offshore wind projects. Higher revenue from onshore wind services and growth in offshore wind deliveries and installations only partially offset the performance shortfall.

In terms of orders, the wind power business registered an 85% year-on-year increase in order intake to $1.2 billion, fueled primarily by demand for onshore wind in North America. However, GE Vernova admitted that the growth was based on a low comparison base in the same period last year.