GE Vernova Q2 2024 10-Q Filed

TL;DR

GE Vernova's Q2 2024 10-Q is in - financials and operations detailed.

AI Summary

GE Vernova Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities and strategic positioning in the energy sector.

Why It Matters

This filing provides investors with a detailed look at GE Vernova's financial health and operational performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it inherently contains detailed financial information that can reveal risks and opportunities, making it medium risk for investors.

Key Numbers

• Q2 2024 — Quarterly Period (Financials reported for this period)
• 20240630 — End of Reporting Period (The date as of which financial information is reported)

Key Players & Entities

• GE Vernova Inc. (company) — Filer of the 10-Q
• 20240630 (date) — Period of report
• 20240724 (date) — Filing date
• 58 CHARLES STREET, CAMBRIDGE, MA 02141 (address) — Business and mailing address

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share GEV New York Stock Exchange
• $1.2 billion — e energy U.S. tax equity investments of $1.2 billion and any tax attributes from historical
• $0.1 billion — tax equity investments, we recognized a $0.1 billion benefit, recorded in Cost of equipment,
• $0.6 b — ition, we received net cash proceeds of $0.6 billion, which is subject to customary wo
• $0.9 billion — result, we recognized a pre-tax gain of $0.9 billion recorded in Other income (expense) – ne
• $306 million — ATION REFUND. In June 2024, we received $306 million in cash, which represented the return o
• $254 million — ch it did in June 2024. For the period, $254 million of cash, constituting the payments prev
• $52 million — eneral, and administrative expenses and $52 million of cash, constituting interest on such
• $115.5 billion — ning performance obligations (RPO) were $115.5 billion and $114.1 billion as of June 30, 2024
• $114.1 billion — ligations (RPO) were $115.5 billion and $114.1 billion as of June 30, 2024 and 2023, respectiv
• $8.2 b — nded June 30, 2024, total revenues were $8.2 billion, an increase of $0.1 billion for
• $1.3 b — for the quarter. Net income (loss) was $1.3 billion, an increase of $1.4 billion in n
• $1.4 billion — (loss) was $1.3 billion, an increase of $1.4 billion in net income for the quarter, and net
• $4.65 — . Diluted earnings (loss) per share was $4.65 for the three months ended June 30, 202
• $5.19 — se in the diluted earnings per share of $5.19 for the quarter. Cash flows from (used

Filing Documents

• gev-20240630.htm (10-Q) — 2064KB
• gev2q202410qexhibit1010.htm (EX-10.10) — 110KB
• gev2q202410qexhibit1028.htm (EX-10.28) — 51KB
• gev2q202410qexhibit31a11111.htm (EX-31.A) — 8KB
• gev2q202410qexhibit31b11121.htm (EX-31.B) — 8KB
• gev2q202410qexhibit3211111.htm (EX-32) — 5KB
• gev-20240630_g1.gif (GRAPHIC) — 86KB
• 0001996810-24-000067.txt ( ) — 11594KB
• gev-20240630.xsd (EX-101.SCH) — 73KB
• gev-20240630_cal.xml (EX-101.CAL) — 103KB
• gev-20240630_def.xml (EX-101.DEF) — 397KB
• gev-20240630_lab.xml (EX-101.LAB) — 824KB
• gev-20240630_pre.xml (EX-101.PRE) — 637KB
• gev-20240630_htm.xml (XML) — 1986KB

Forward-Looking Statements 3

Forward-Looking Statements 3 About GE Vernova 4

Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) 4

Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) 4 Transition to Stand-Alone Company 4 Disposition and Acquisition Activity 4 Arbitration Refund 5 Vineyard Wind Offshore Wind Farm 5 Results of Operations 5 Segment Operations 7 Other Information 10 Capital Resources and Liquidity 11 Recently Issued Accounting Pronouncements 13 Critical Accounting Estimates 13 Non-GAAP Financial Measures 13

Controls and Procedures 16

Controls and Procedures 16 Legal Proceedings 16

Financial Statements and Notes 17

Financial Statements and Notes 17 Consolidated and Combined Statement of Income (Loss) 17 Consolidated and Combined Statement of Financial Position 18 Consolidated and Combined Statement of Cash Flows 19 Consolidated and Combined Statement of Comprehensive Income (Loss) 20 Consolidated and Combined Statement of Changes in Equity 21 Note 1 Organization and Basis of Presentation 23 Note 2 Summary of Significant Accounting Policies 24 Note 3 Dispositions and Businesses Held for Sale 24 Note 4 Current and Long-Term Receivables 24 Note 5 Inventories, Including Deferred Inventory Costs 25 Note 6 Property, Plant, and Equipment 25 Note 7 Leases 25 Note 8 Acquisitions, Goodwill, and Other Intangible Assets 25 Note 9 Contract and Other Deferred Assets & Contract Liabilities and Deferred Income 25 Note 10 Current and All Other Assets 26 Note 11 Equity Method Investments 27 Note 12 Accounts Payable and Equipment Project Payables 27 Note 13 Postretirement Benefit Plans 27 Note 14 Current and All Other Liabilities 28 Note 15 Income Taxes 28 Note 16 Accumulated Other Comprehensive Income (Loss) (AOCI) 29 Note 17 Share-Based Compensation 29 Note 18 Earnings Per Share Information 30 Note 19 Other Income (Expense) – Net 31 Note 20 Financial Instruments 31 Note 21 Variable Interest Entities 33 Note 22 Commitments, Guarantees, Product Warranties, and Other Loss Contingencies 33 Note 23 Restructuring Charges and Separation Costs 35 Note 24 Related Parties 36 Note 25 Segment Information 37 Exhibits 39 Form 10-Q Cross Reference Index 40 Signatures 41 FORWARD-LOOKING STATEMENTS . The public communications and SEC filings of GE Vernova Inc. (the Company, GE Vernova, our, we or us) may contain statements related to future, not past, events. These forward-looking statements often address our current expected future business and financial performance and condition based on certain assumptions and include any statement that doe

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View this 10-Q filing on SEC EDGAR