Baker Hughes Announces Third-Quarter 2026 Results
Key Highlights
- ➤Orders $10.8 billion, including $5.9 billion in IET orders, up 31% year-over-year
- ➤RPO $46.4 billion, including record IET RPO of $39.4 billion
- ➤IET order guidance raised; Horizon 2 outlook targets $50 billion plus
- ➤Revenue $8.025 billion, up 19% sequentially and 14% year-over-year
- ➤Chart acquisition completed; adjusted EBITDA reached $1.415 billion, up 14% year-over-year
Expert Statements
Simonelli, Baker Hughes executive; title not specified in article
“Baker Hughes delivered another strong quarter, reflecting disciplined operational execution and broad-based commercial momentum across the company. Performance across IET, OFSE and Chart highlights the strength of our expanded portfolio and the growing value of our complementary capabilities as we build a more industrialized energy solutions company positioned across attractive energy and industrial markets.”
Simonelli, Baker Hughes executive; title not specified in article
“Alongside continued strong operational results, IET achieved its second-largest order quarter, booking $5.9 billion and driving RPO to another record. Broad-based demand across data centers, space, LNG and gas infrastructure, together with ongoing capacity expansions, reinforces our long-term growth outlook and supports raising our full-year IET order guidance and Horizon 2 IET order outlook to $50 billion plus. The resulting backlog growth provides greater revenue visibility while expanding our installed base and long-term aftermarket opportunity.”
Simonelli, Baker Hughes executive; title not specified in article
“OFSE delivered another solid quarter, supported by growing momentum across international markets led by a meaningful improvement in the Middle East. We see additional opportunity as customers increasingly prioritize maximizing recovery and extending asset life, areas where the breadth of Baker Hughes' capabilities positions us to deliver more integrated solutions through our Mature Assets Solutions offering.”
Simonelli, Baker Hughes executive; title not specified in article
“Chart delivered a solid first quarter as part of Baker Hughes. Integration is also progressing at a strong pace, and early synergy actions reinforce our confidence in the value creation opportunity ahead. By connecting complementary technologies, installed bases and customer relationships, we are expanding our ability to pursue larger opportunities and deliver more integrated solutions across energy and industrial markets.”
Simonelli, Baker Hughes executive; title not specified in article
“Energy security, rising demand for AI and emerging opportunities across growth markets are creating new opportunities across our energy upstream, energy infrastructure and industrial end markets. With a record RPO, robust order pipeline, growing installed base and inflecting energy upstream market, Baker Hughes is well positioned to deliver durable growth, stronger earnings power and long-term value for shareholders.”
Third-quarter highlights * Orders of $10.8 billion, including $5.9 billion of IET orders. * RPO of $46.4 billion, including record IET RPO of $39.4 billion. * Revenue of $8.0 billion. * Attributable net income of $411 million. * GAAP diluted EPS of $0.41 and adjusted diluted EPS* of $0.70. * Adjusted EBITDA* of $1,415 million. * Cash flows from operating activities of $1,005 million and free cash flow* of $769 million. HOUSTON and LONDON, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Baker Hughes Company (Nasdaq: BKR) ("Baker Hughes" or the "Company") announced results today for the third quarter of 2026.
"Baker Hughes delivered another strong quarter, reflecting disciplined operational execution and broad-based commercial momentum across the company. Performance across IET, OFSE and Chart highlights the strength of our expanded portfolio and the growing value of our complementary capabilities as we build a more industrialized energy solutions company positioned across attractive energy and industrial markets."
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