Baker Hughes Co reported second-quarter 2026 results with revenue of $6.74B and diluted EPS of $0.68, modestly down versus the year-ago quarter as net income attributable to the company totaled $681M.
Financial Highlights
- Revenue: $6.74B for Q2 2026, down from $6.91B in Q2 2025 ( (2%)).
- Net income: $681M attributable to Baker Hughes Company for Q2 2026, versus $701M in Q2 2025 ((2.9%)).
- Diluted EPS: $0.68 for Q2 2026, down from $0.71 in Q2 2025 ((4.2%)).
Business Highlights
- Revenue performance: Q2 revenue of $6.7B was down 2% year over year; OFSE declined about 5% while IET held roughly flat with growth in GTS, IP and CTS businesses.
- Geography and channel: International demand softened in the Middle East/Asia and Europe/CIS, while Latin America and North America were modestly resilient.
- Operational productivity: Segment EBITDA improved in IET (up 16% in Q2), driven by pricing, productivity and cost-out actions; OFSE EBITDA declined.
- Acquisition: Completed the Chart acquisition on July 16, 2026, enhancing gas/LNG capabilities and expanding the company’s OEM footprint.
- Backlog and orders: Remaining performance obligations (RPO) were strong at $40.1B (IET $37.1B), supporting multi-year execution and LNG/gas infrastructure demand.
Original SEC Filing:
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