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GE Vernova (GEV) Q1 FY2023 earnings: revenue $6.8 billion

GE Vernova Inc. (GEV) reported revenue of $6.8 billion for Q1 FY2023, the quarter ended 31 March 2023. Net income was -$315 million. The figures are the company's own, from the 10-Q it filed with the SEC on 30 April 2024.

Revenue
$6.8 billion
Q1 FY2023Q1 FY2023
Operating margin
-6.9%
Q1 FY2023Q1 FY2023
Net income
-$315 million
Q1 FY2023Q1 FY2023
Diluted EPS
n/a
Q1 FY2023Q1 FY2023

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Revenue6,822n/an/a
Cost of revenue5,903n/an/a
Gross profit919n/an/a
Gross margin13.5%n/an/a
Research and development202n/an/a
Selling, general and administrative1,186n/an/a
Operating income-469n/an/a
Operating margin-6.9%n/an/a
Pre-tax income-415n/an/a
Income tax-69.0n/an/a
Net income-315n/an/a
Net margin-4.6%n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Operating cash flow-690n/an/a
Capital expenditure124n/an/a
Free cash flow-814n/an/a
Free cash flow margin-11.9%n/an/a
Cash from investing-41.0n/an/a
Cash from financing704n/an/a
Depreciation and amortisation231n/an/a
Dividends paid0.0n/an/a
Shares outstanding at period end274mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2023Quarter beforeA year earlierOn the quarterOn the yearLast 8 quarters
Shareholders' equity10,412n/an/a
Cash and equivalents2,073n/an/a

Questions

What was GE Vernova's revenue in Q1 FY2023?

GE Vernova (GEV) reported revenue of $6.8 billion for Q1 FY2023, the quarter ended 31 March 2023.

How much did GE Vernova earn in Q1 FY2023?

Net loss for Q1 FY2023 was $315 million.

When did GE Vernova report Q1 FY2023 results?

GE Vernova filed its 10-Q for the quarter ended 31 March 2023 with the SEC on 30 April 2024.

Quarterly results, the last 15 quarters

Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue6,8228,1198,25310,0457,2608,2048,91310,5588,0329,1119,96910,9569,33911,10412,642
Cost of revenue5,9036,9737,2018,3446,1096,5027,8048,4356,5627,2668,0718,6347,5588,7449,536
Gross profit9191,1471,0511,7011,1501,7021,1092,1241,4701,8461,8972,3221,7812,3603,107
Gross margin13%14%13%17%16%21%12%20%18%20%19%21%19%21%25%
R&D202216223255237237243265239282310366304334358
SG&A1,1861,2721,1351,2521,2029381,2261,2661,1881,1851,2211,3551,2981,3721,354
Operating income-469-341-307194-289527-35959243.03783666011796531,394
Operating margin-7%-4%-4%2%-4%6%-4%6%1%4%4%5%2%6%11%
Pre-tax income-415-27.0-16.0328-96.01,602-1221,1143326457461,1055,1039251,782
Tax raten/an/an/a37%n/a20%n/a57%20%24%39%-232%7%30%28%
Net income-315-150-170197-1301,294-96.04842545144523,6644,7456681,291
Net margin-5%-2%-2%2%-2%16%-1%5%3%6%5%33%51%6%10%
Diluted EPSn/a-$0.55-$0.62n/a-$0.47$4.65-$0.35$1.73$0.91$1.86$1.64$13.39$17.44$2.47$4.81
Operating cash flow-690-2882331,931-4449791,1279211,1613679802,4795,1885,4926,057
Capital expenditure124159181280217157159350186173247671397386647
Free cash flow-814-44752.01,651-6618229685719751947331,8084,7915,1065,410
Buybacksn/an/an/an/a0.00.040.03.01,1014806601,0751,2782,3931,625
Dividends paid0.00.00.00.00.00.00.00.069.070.068.068.0137136133
Shares outstanding274m275m276m276m274m275m276m276m273m272m271m270m269m266m265m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2023, filed 30 April 2024: the filing.