The company reaffirmed its full-year revenue forecast of $36 billion to $37 billion, stating that the outlook already includes a projected cost impact of $300 million to $400 million from recently imposed tariffs.

GE Vernova (GE) shares jumped over 7% at the opening bell on Wednesday after the company reported a first-quarter profit and said tariffs announced by President Donald Trump are not expected to have a material impact on its financial outlook for the second quarter or the full fiscal year. 

The energy-focused spin-off from General Electric reaffirmed its full-year revenue forecast of $36 billion to $37 billion. It stated that the outlook already includes a projected cost impact of $300 million to $400 million resulting from recently imposed tariffs. 

CEO Scott Strazek said during the earnings call that the company expects the tariffs to change and inflation dynamics to evolve, but warned of some cost pressure it might have to counter.

“Based on the current outline of tariffs and resulting inflation, we do not expect a material impact on our second quarter financials,” added CFO Ken Parks.

The company reported adjusted earnings of $0.91 per share, well above the $0.37 forecast by analysts, according to Koyfin data. 

Revenue rose 11% from a year earlier to $8.03 billion, also topping estimates of $7.55 billion.

Net income came in at $264 million, a turnaround from the $106 million loss reported in the same quarter last year.

GE Vernova's electrification unit reported a core profit of $214 million, more than triple the level from the previous year. 

The power segment, its largest division, delivered core profit of $508 million, up from $345 million in the prior-year period.

The company’s offshore wind business, however, remained under pressure. The segment posted a core loss of $146 million during the quarter. Orders declined 44% to $640 year-over-year (YoY), with the company citing challenges from supply chain disruptions, project delays, and cost inflation.

Meanwhile, overall orders increased 8% on an organic basis to $10.2 billion, driven by demand for services and power equipment. The company said that its backlog increased by $4.4 billion from the previous quarter, indicating strength in future revenue visibility.

GE Vernova’s stock is down 2% year-to-date, but has more than doubled in value over the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Read also: Bitcoin Tops Alphabet’s Market Capitalization – Trails Only Gold, Apple, Microsoft, Nvidia