Friday, April 24, 2026
Baker Hughes Company ( (BKR) ) has provided an announcement.
Baker Hughes reported strong first-quarter 2026 results on April 23, 2026, posting $8.2 billion in orders, $6.6 billion in revenue, $930 million in attributable net income and adjusted EBITDA of $1.16 billion, with revenue up 2% year over year despite disruptions in the Middle East. The IET segment delivered record orders of $4.9 billion and a 1.5x book-to-bill, driving a record $33.1 billion backlog, while the company advanced portfolio reshaping through closing a surface pressure control joint venture with Cactus, selling its PSI product line to Crane, preparing for proceeds from HMH’s IPO and agreeing to divest Waygate Technologies, moves expected to bolster its balance sheet and reinforce its positioning in energy infrastructure and clean power technologies.
Operationally, Baker Hughes highlighted that both OFSE and IET remained resilient amid regional disruptions, citing strong demand across power systems, LNG, gas infrastructure, CCS and grid stability solutions, along with new awards in geothermal, compressed air energy storage and critical infrastructure power projects. Management reiterated confidence in business fundamentals and its Horizon 2 strategy, noting that conflict-related challenges in the Middle East are simultaneously elevating energy security concerns, which could underpin structural growth in upstream investment and global energy infrastructure spending, with implications for sustained order visibility and long-term shareholder value.
More about Baker Hughes Company
Baker Hughes Company is a global energy technology and industrial services provider serving the oil and gas, power generation and broader energy infrastructure markets. Through its Industrial & Energy Technology (IET) and Oilfield Services & Equipment (OFSE) segments, the company supplies turbines, generators, drilling and production technologies, and related services that support upstream activity, LNG, gas infrastructure, carbon capture and grid stability projects worldwide.