Baker Hughes Reports Strong Third Quarter Performance
Baker Hughes reported what leaders call a “strong third quarter performance,” showing the Houston company had $8.2 billion in orders and $7 billion in revenue, a $100 million increase. The company reported attributable net income of $609 million.
Cash Flow and Industrial Growth
Cash flow from operating activities reached $929 million. Free cash flow totaled $699 million. Of the more than $8 billion in orders, $4.1 billion came from Industrial and Energy Technology (IET). Those divisions drive energy innovation across manufacturing, digital, and power sectors — including major Oklahoma operations tied to oilfield and power generation projects.
“Our strong third quarter performance represents clear evidence of the consistent execution and operational discipline embedded across the organization,” said Lorenzo Simonelli, Baker Hughes Chairman and Chief Executive Officer. “This performance reflects continued momentum from our Business System deployment, positive trends in Gas Technology, and strong outperformance in U.S. land, where our leverage to production-related activity gives us a clear advantage.”
IET Delivers Record Orders
“While OFSE margins softened, reflecting the broader macro backdrop, IET delivered another quarter of strong performance, driving consolidated Adjusted EBITDA margins higher year-over-year. This positive margin progression highlights the resilience of our portfolio and the foundation we’ve built through disciplined execution,” Simonelli said.
He said strong market tailwinds in LNG, power generation, and offshore helped secure more than $4 billion of IET orders for “only the third time in our history.”
“IET backlog grew 3% sequentially, reaching a new record of $32.1 billion – further reinforcing the durability and visibility of our growth outlook in IET. After securing almost $11 billion in orders during the first three quarters, and with strong visibility on expected awards in the fourth quarter, we now expect full-year orders to exceed our prior midpoint,” added Simonelli.
Strategic Acquisitions Strengthen Portfolio
In the third quarter, Baker Hughes advanced its portfolio management strategy with a major acquisition plan. The company announced its intent to acquire Chart Industries, Inc. for approximately $13.6 billion. The acquisition marks a significant step to enrich the company’s portfolio and enhance value delivered to customers across high-growth energy markets.
Baker Hughes also completed its acquisition of Continental Disc Corporation. That addition brings a highly complementary, margin-accretive portfolio of products expected to expand Baker Hughes’ position in flow and pressure control markets. The move enhances recurring, lifecycle-driven revenues and strengthens the company’s Oklahoma-linked industrial footprint across the energy sector.
