BKR
Baker Hughes Company45.02
-1.87-3.99%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
NovaLT slots full through 2028
Q&A largely reaffirmed prepared remarks on IET's $13.5-15.5 billion order guide and margin paths, but highlighted NovaLT slots fully committed through 2028 amid data center acceleration. Management unpacked IET's 20% EBITDA margin trajectory via Gas Tech backlog and Cordant leverage, with OFSE margins flat organically despite tariffs and mix shifts. Venezuela surfaced as a fresh opportunity, eyeing $500 million historical revenue if investments unlock. Strategic review drew evasive nods to Chart focus. NovaLT demand locked in years ahead.
Key Stats
Market Cap
44.42BP/E (TTM)
15.52Basic EPS (TTM)
2.90Dividend Yield
0.02%Recent Filings
8-K
Chart 2025 financials filed
10-K
FY2025 results
Baker Hughes posted FY2025 revenue of $27.7B, off 0.1% y/y, with OFSE down 8% to $14.3B on softer rig counts while IET surged 10% to $13.4B fueled by gas technology strength. Net income fell 13% to $2.6B amid equity security losses and transaction costs, yet margins held via cost cuts. Orders hit $29.6B, up 5% y/y, with RPO at $35.9B signaling backlog momentum; IET grabbed $3B data center orders through 2027. Q4 closed strong on LNG tailwinds, but OFSE decelerated sequentially. Cash swelled to $3.7B, funding $1.3B shareholder returns. Chart acquisition eyes Q2 2026 close. Supply chain snarls threaten quarterly flow.
8-K
Q4 results: record RPO, strong FCF
Baker Hughes reported Q4 revenue of $7.4B, flat year-over-year, with record RPO at $35.9B driven by IET's $32.4B backlog. Adjusted EBITDA rose 2% to $1,337M, fueled by IET strength that offset OFSE softness; full-year free cash flow hit record $2.7B. IET hit 20% margins. Eyes mid-single-digit EBITDA growth in 2026.
8-K
HSR clearance for Chart deal
10-Q
Q3 FY2025 results
Baker Hughes posted Q3 revenue of $7.0B, up 1% y/y yet flat q/q (derived), with IET surging 15% y/y on Gas Technology strength while OFSE dipped 8% y/y amid softer rig counts. Net income fell to $609M from $766M y/y, diluted EPS $0.61 vs $0.77, pressured by $71M other expense including $47M transaction costs and weaker equity security marks—yet margins held as cost-outs offset volume hits. Cash sits at $2.7B, operating cash YTD $2.1B; total debt steady ~$6.1B with $3B revolver undrawn. Closed CDC buy for $553M (Aug 2025), recognizing $228M goodwill and $269M intangibles. Chart deal advances to mid-2026. Regulatory approvals loom large.
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