Description

Baker Hughes Company’s $7.1 Billion Order Record: Can IET Sustain The Momentum?

The Baker Hughes Company reported its second quarter financial results reflecting continued momentum amid a complex geopolitical environment and evolving energy markets. Adjusted EBITDA reached $1.23 billion, surpassing the high end of guidance, driven largely by strong performance in Industrial Energy Technology (IET) and resilience in Oilfield Services and Equipment (OFSE) despite disruptions in the Middle East. Adjusted earnings per share were $0.64, up 2% year-over-year, supported by operational strength that offset impacts from divestitures and joint ventures. Free cash flow generation was robust at $1.1 billion. Orders within IET doubled year-over-year to a record $7.1 billion, producing a 2.2x book-to-bill ratio and raising remaining performance obligations to an all-time high of $37.1 billion. The backlog offers significant revenue visibility while supporting aftermarket and digital revenue growth.