GE Vernova has released its financial results for the second quarter of 2026. While the group delivered solid overall performance, persistent losses in its wind segment have drawn market attention.

Wind Segment: Orders and Profitability Under Pressure

Driven by weak demand for onshore wind turbines in North America, new wind orders at GE Vernova tumbled 40% year-on-year to USD 1.2 billion in the second quarter.

Wind revenue fell 10% year-on-year to USD 2.03 billion. The decline stemmed from lower onshore turbine deliveries resulting from sluggish orders in the first half of 2025. Higher revenue from onshore wind services and expanded offshore turbine delivery and installation activities partially offset the revenue drop, yet profitability remained under severe strain.

Profit metrics deteriorated further. The wind segment posted an EBITDA loss of USD 275 million in Q2, larger than the USD 165 million loss recorded in the same period last year and also worse than the loss seen in the first quarter of 2026. The widening losses were mainly caused by reduced onshore turbine deliveries and mounting costs for offshore wind projects.

Group-wide Performance: Revenue and Profit Rise

In stark contrast to the struggling wind business, GE Vernova’s overall operations maintained strong growth momentum.

Group total revenue rose 22% year-on-year to USD 11.1 billion in the quarter. Profitability improved markedly, with net income climbing 31% to USD 649 million, while adjusted EBITDA surged 62% to USD 1.25 billion, supported by steady performance across its electrification and power divisions.

Raised Full-year Guidance, Unchanged Outlook for Wind Losses

Buoyed by robust first-half results, GE Vernova upgraded its full-year 2026 financial guidance. The projected range for group revenue was lifted from USD 44.5–45.5 billion to USD 45.5–46.5 billion, whereas the group-wide EBITDA margin forecast remains unchanged at 12%–14%.

Nevertheless, the company retains its downbeat outlook for the wind segment, maintaining the expectation of an annual EBITDA loss of roughly USD 400 million. This signals that a recovery in wind business profitability will take time.