GE Vernova Inc. completed its spin-off from General Electric Company on April 2, 2024, becoming an independent company. The company, a global leader in the electric power industry, generates approximately 25% of the world's electricity using its installed base of technologies. GE Vernova operates in three business segments: Power, Wind, and Electrification, offering a broad portfolio of products and services for power generation, transmission, and distribution.In Q3 2024, GE Vernova reported significant financial developments. The company's Financial Services business retained $1.2 billion in renewable energy U.S. tax equity investments, managed under an agreement with GE. Additionally, GE Vernova recognized a $0.1 billion benefit in Cost of equipment related to deferred intercompany profit from historical equipment sales.During Q2 2024, GE Vernova's Steam Power...Show More

GE Vernova Inc. completed its spin-off from General Electric Company on April 2, 2024, becoming an independent company. The company, a global leader in the electric power industry, generates approximately 25% of the world's electricity using its installed base of technologies. GE Vernova operates in three business segments: Power, Wind, and Electrification, offering a broad portfolio of products and services for power generation, transmission, and distribution.In Q3 2024, GE Vernova reported significant financial developments. The company's Financial Services business retained $1.2 billion in renewable energy U.S. tax equity investments, managed under an agreement with GE. Additionally, GE Vernova recognized a $0.1 billion benefit in Cost of equipment related to deferred intercompany profit from historical equipment sales.During Q2 2024, GE Vernova's Steam Power business completed the sale of part of its nuclear activities to Electricité de France S.A. (EDF) for net cash proceeds of $0.6 billion, subject to adjustments. This transaction resulted in a pre-tax gain of $0.9 billion, recorded in Other income. The company continues to focus on strengthening its profitability and shareholder returns while accelerating the energy transition through innovation and investment across its technology portfolio.