Baker Hughes earnings for the third quarter of 2026 showed revenue rising 14% from a year earlier, while net income fell 33%. The energy technology company said its completed acquisition of Chart Industries was the main driver of the revenue increase.

Key Takeaways

  • Revenue rose to $8.025 billion, while net income attributable to Baker Hughes fell to $411 million.
  • Total orders reached $10.8 billion, including $5.9 billion at Industrial & Energy Technology.
  • Baker Hughes raised its full-year IET order guidance and its longer-term Horizon 2 IET order outlook.

Baker Hughes earnings and cash flow

For the three months ended September 30, revenue increased from $7.010 billion a year earlier. Attributable net income declined from $609 million, while adjusted net income, a non-GAAP measure, rose 2% to $695 million.

Baker Hughes said the year-over-year increase in adjusted net income and adjusted EBITDA was primarily driven by the Chart acquisition, pricing, higher volume and cost reductions. Those factors were partly offset by reduced productivity benefits, changes in business mix and inflation.

Operating cash flow was $1.005 billion, and free cash flow was $769 million. Free cash flow and adjusted EBITDA are non-GAAP measures.

ItemDetails
GAAP diluted earnings per share$0.41 in the third quarter of 2026
Adjusted diluted earnings per share$0.70 in the third quarter of 2026
Adjusted EBITDA$1.415 billion in the third quarter of 2026

Orders and guidance

Orders rose 31% year over year to $10.8 billion. Industrial & Energy Technology, or IET, accounted for $5.9 billion, its second-largest order quarter. Total remaining performance obligations, a measure of work yet to be performed, reached $46.4 billion, including a record $39.4 billion at IET.

Management said demand across data centers, space, liquefied natural gas and gas infrastructure supported its decision to raise full-year IET order guidance and its Horizon 2 IET order outlook to $50 billion or more. The available release excerpt did not specify the revised full-year figure or the Horizon 2 period.

Chart acquisition and business activity

Chart delivered its first quarter as part of Baker Hughes after the company completed the previously announced all-cash acquisition. Baker Hughes said integration was progressing and that Chart contributed to the increase in revenue.

Oilfield Services & Equipment revenue rose 1% year over year to $3.660 billion. The company attributed the increase mainly to higher activity in Europe, the Commonwealth of Independent States, sub-Saharan Africa and Latin America, partly offset by a decline in the Middle East and Asia related to a business disposal.

Read More News

More FinanceVelix news

Disclaimer

This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.