GE cuts renewables loss as Q2 revenue rises 24%

Richard Heap

July 25, 2023

General Electric made a $359m loss in its renewables division in the second quarter of 2023 despite a 24% year-on-year increase in revenues.

The company today reported its results for the three months ending on 30th June. This showed that it increased second-quarter renewables sales from $3.1bn in 2022 to over $3.8bn in 2023, and its quarterly loss narrowed from $419m to $359m over the same period.

In addition, the company announced nearly $8.3bn of orders in the quarter, driven by its offshore wind and grid operations.

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