GE Vernova reported a $61 million loss in its wind division for the latest quarter, a significant improvement from the $317 million loss posted during the same period last year, the company said on Thursday.
Segment earnings fell to $2.65 billion, down from $2.89 billion a year earlier, largely due to charges related to blade impact events, GE Vernova said.
The company attributed the narrower losses to improved onshore wind equipment profitability, better pricing, and productivity gains, though these were partially offset by tariff impacts.
GE Vernova also reported lower contract losses in its offshore wind business, though these gains were tempered by the absence of a $500 million settlement received last year related to a previously cancelled offshore project.
Orders for the wind division rose 5% year-on-year to $1.83 billion, compared with $1.75 billion in the third quarter of 2024. The increase was driven primarily by higher demand for onshore wind services, while equipment orders declined.
“We are leading from a position of strength and are focused on long-term growth and returns,” said Scott Strazik, GE Vernova’s Chief Executive Officer. “This era of increased electricity investment has just started, and we have substantial opportunity ahead of us as we provide the solutions required to help the world electrify to thrive and decarbonize.”
The results come as GE Vernova continues to expand its global renewable energy portfolio ahead of its planned spin-off from General Electric, part of a broader restructuring to focus on the energy transition.
