Baker Hughes makes equipment and runs field services for oil and gas producers, LNG plant operators, pipeline companies and industrial power users. Its products cover the whole gas chain, from drill bits and well completions to the compressors and turbines that chill natural gas into liquid for export. Its oilfield arm drills, completes and maintains wells, while its industrial arm designs, builds and services turbomachinery, valves and monitoring software. It earns money from equipment sales, project work and long-term service agreements that keep installed machines running. The current company formed in 2017 when Baker Hughes combined with GE's oil and gas business, and it is based in Houston.
Company Size
10,001+
Company Stage
IPO
Headquarters
Houston, Texas
Founded
1972
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Flexible Work Hours
Comprehensive private medical care options
Life Insurance
Disability Insurance
Education Assistance
Generous Parental Leave
Mental Health Resources
Dependent Care
401(k) Company Match
Additional elected or voluntary benefits
Represents a major milestone in Baker Hughes’ ongoing portfolio management strategy to become a higher-value, leading industrialized energy solutions company
Baker Hughes has secured a multi-year contract with Kuwait Oil Company to accelerate technology innovation in Kuwait's upstream energy sector. The agreement positions Baker Hughes as a key technology partner in KOC's Ahmadi Innovation Valley, an in-country research and innovation hub. The collaboration will focus on developing scalable solutions to optimise production and flow assurance, utilising Baker Hughes' digital and AI automation technologies. These solutions aim to increase recovery from existing wells, lower operating costs, reduce water production and minimise power consumption. Baker Hughes will establish a dedicated research and technology development centre at Ahmadi Innovation Valley to support continuous evaluation of new solutions and build local expertise. The company has operated in Kuwait for over four decades.
Baker Hughes exceeded Wall Street expectations in its second quarter despite a modest revenue decline. The company reported revenue of $6.74 billion, beating analyst estimates of $6.50 billion, though down 2.4% year-on-year. Adjusted earnings per share reached $0.64, significantly surpassing the $0.49 forecast. CEO Lorenzo Simonelli highlighted strong order momentum in the Industrial & Energy Technology segment and successful navigation of Middle East headwinds. The company's diversified portfolio helped it outperform amid global energy market volatility. During the earnings call, analysts focused on power systems capacity expansion, with management noting expected payback periods below two years. Questions also addressed commercial synergies from the Chart acquisition, particularly opportunities in data centres and gas infrastructure. Management expressed confidence in margin expansion through pricing strength and disciplined execution.
Baker Hughes reported second-quarter revenue of $6.74 billion, beating analyst estimates of $6.50 billion despite a 2.4% year-on-year decline. Adjusted earnings per share came in at $0.64, surpassing consensus estimates of $0.49 by 31.5%. The energy technology company attributed its performance to strong order momentum in its Industrial & Energy Technology segment and successful navigation of Middle East headwinds. The company recently completed its acquisition of Chart Industries, which management says will enhance capabilities in thermal management, gas handling, and carbon capture. Chief executive Lorenzo Simonelli highlighted plans to triple power systems revenue capacity by decade's end, driven by data centre and AI-related electricity demand. The company maintained stable operating margins of 12.7% and reported record order levels in its IET segment.
Baker Hughes reported strong second-quarter results, with adjusted EBITDA of $1.23 billion exceeding guidance. The company generated $1.1 billion in free cash flow and earnings per share of $0.64. Industrial & Energy Technology (IET) orders reached a record $7.1 billion, double the prior year figure. The book-to-bill ratio stood at 2.2 times, pushing remaining performance obligations up 19% to $37.1 billion. Power Systems secured $2.6 billion in orders, including 2.7 gigawatts of generation capacity, whilst LNG equipment orders totalled $1.8 billion. Baker Hughes provided full-year guidance of $27.35 billion in revenue and $4.85 billion in adjusted EBITDA. The company is expanding gas turbine and generator capacity to support nearly $5 billion in annual Power Systems revenue by 2029. Net debt to adjusted EBITDA declined to 0.1 times.