Baker Hughes Company announced its financial results for the third quarter of 2026 on October 27, 2026. The company reported revenue of $8.025 billion for the quarter, representing a 19% increase from the previous quarter and a 14% increase compared to the same period in 2025. This year-over-year growth was primarily driven by the contribution from the recently completed acquisition of Chart Industries.
Key financial metrics for the three months ended September 30, 2026, included:
- Orders: $10.764 billion, including $5.9 billion in Industrial & Energy Technology (IET) orders.
- Revenue: $8.025 billion.
- Attributable Net Income: $411 million.
- GAAP Diluted EPS: $0.41.
- Adjusted Diluted EPS: $0.70.
- Adjusted EBITDA: $1.415 billion.
- Free Cash Flow: $769 million.
Baker Hughes highlighted strong momentum across its segments. The IET segment achieved its second-largest order quarter with $5.9 billion in orders, driving its backlog to a record $39.4 billion. The company raised its full-year IET order guidance and Horizon 2 outlook to $50 billion plus. The Oilfield Services & Equipment (OFSE) segment delivered solid performance, supported by growth in international markets, particularly the Middle East. The newly integrated Chart segment also delivered broad-based orders.
Regarding operational awards, Baker Hughes secured several major contracts, including a significant LNG award from Venture Global for the Plaquemines expansion and a major integrated power generation order to supply 1.1 gigawatts of power for a U.S. technology company. The company also announced it will hold a conference call on Wednesday, October 28, 2026, at 9:30 a.m. Eastern Time to discuss the earnings announcement.
