Baker Hughes Company Reports Q3 Earnings

HOUSTON – Baker Hughes Company (NASDAQ: NASDAQ:BKR) reported third quarter earnings that beat analyst expectations on the bottom line, though revenue came in slightly below estimates.

The oilfield services company posted adjusted earnings per share of $0.67, exceeding the consensus estimate of $0.61. Revenue for the quarter was $6.9 billion, falling short of analysts' projections of $7.21 billion.

The company delivered strong profitability improvements, with adjusted EBITDA rising 23% year-over-year to $1.21 billion. Margins expanded significantly, with total company EBITDA margins reaching 17.5%, marking the highest level since Baker Hughes was formed.

"We delivered another quarter of record EBITDA, highlighted by exceptional operational performance across both segments. Our margins continue to improve at an accelerated pace," said Lorenzo Simonelli, Baker Hughes Chairman and CEO.

Orders remained solid at $6.7 billion, including $2.9 billion in Industrial & Energy Technology (IET) orders. The IET segment saw continued momentum in gas infrastructure and offshore projects, securing major contract wins.

Baker Hughes maintained its full-year EBITDA guidance, expressing confidence in achieving the midpoint target. The company's focus on operational discipline and cost management is driving margin expansion.

While revenue growth was modest at 4% year-over-year, Baker Hughes emphasized its progress toward more durable earnings and cash flow generation across cycles. The company’s large base of recurring service revenue and improved cost structure are contributing to reduced cyclicality.

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