GE Renewable Energy made a loss of $98m in the third quarter of 2019, compared with a profit of $116m in the same period last year, despite its order book growing 30%.
The company said the negative result was driven by higher losses on legacy contracts, pricing, tariffs and increased research and development investment.
Losses were partially offset by cost productivity and strong volume, GE said.
Orders in the third quarter were $5016m, up from $3859m last year, while revenue grew 13% to $4425m from $3920m.
Onshore wind orders increased 19% in the period, while prices continued to stabilise, GE said.
GE Renewable Energy’s loss for the first nine months of year stood at $469m, compared with a profit of $312m in 2018.
Orders for the first three quarters of the year were $12,204m, up 22% on the $10,009m posted in 2018.
Revenue from 1 January to the end of September was $10,590m, a rise of 10% on the $9,642m posted last year.