GE Vernova Inc 2025年季度报告

FORM10-Q (Mark One)☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ____ to ____ Commission file number001-41966 (617)674-7555(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days.YesþNo¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).YesþNo¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one): If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ There were272,934,744shares of common stock with a par value of $0.01 per share outstanding atMarch31, 2025. TABLE OF CONTENTS Item 1. Financial Statements and Supplementary DataConsolidated and Combined Statement of Income (Loss)Consolidated and Combined Statement of Financial PositionConsolidated and Combined Statement of Cash Flows Part II Item 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. Exhibits Signatures FORWARD-LOOKING STATEMENTS.This quarterly report of GE Vernova Inc. (the Company, GE Vernova, our, we, or us) containsforward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that aresubject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “guidance”, “anticipate”, “intend”,“plan”, “estimate”, “will”, “may”, and negatives or derivatives of these or similar expressions. These forward-looking statements include,among others, statements about the benefits GE Vernova expects from our lean operating model; our expectations regarding the energytransition; the demand for our products and services; our expectations of future increased business, revenues, and operating results; ourability to innovate and anticipate and address customer demands; our ability to increase production capacity, efficiencies, and quality; ourunderwriting and risk management; the estimated impact of tariffs;the experiences we believe we are gaining across our Haliade-Xbacklog related to installation timelines and related remediation plans;benefits we expect to receive from the Inflation Reduction Act of2022 (IRA); current and future customer orders and projects; our actual and planned investments, including in research and development,capital expenditures, joint ventures and other collaborations with third parties; our ability to meet our sustainability goals and targets; levelsof global infrastructure spending; government policies that further or limit the global energy transition; our expectedcash generation andmanagement; our capital allocation framework, including share repurchases and dividends; our restructuring programs and strategies toreduce operational costs; our ability to novate or assign credit support provided by General Electric Company; disputes, litigation,arbitration, and governmental proceedings involving us; the sufficiency and expected uses of our cash, liquidity, and financingarrangements; and our credit ratings. Forward-looking statements reflect our current expectations, are based on judgments and assumptions, are inherently uncertain and aresubject to risks, uncertainties, and other factors, which could cause our actual results, performance, or achievements to differ materiallyfrom current expectations. Some of the risks, uncertainties, and other factors that may cause actual results to differ materially from thoseexpressed or implied by forward-looking statements include the following: •Our ability to successf