Baker Hughes(US:BKR)2025-10-23 21:25Financial Performance - Total orders for the third quarter of 2025 reached $8.2 billion, a 17% sequential increase and a 23% year-over-year increase, including $4.1 billion in IET orders[5] - Revenue for the quarter was $7.0 billion, reflecting a 1% increase both sequentially and year-over-year[20] - Attributable net income was $609 million, down 13% sequentially and 20% year-over-year[21] - Adjusted EBITDA for the quarter was $1,238 million, up 2% sequentially and year-over-year[23] - Remaining Performance Obligations (RPO) totaled $35.3 billion, an increase of $1.3 billion from the previous quarter, with IET RPO at a record $32.1 billion[25] - OFSE orders for Q3 2025 reached $4,068 million, an increase of $565 million, or 16% sequentially[30] - OFSE revenue for Q3 2025 was $3,636 million, up $18 million, or 1% sequentially, but down $327 million, or 8% year-over-year[30] - IET orders for Q3 2025 totaled $4,139 million, an increase of $1,271 million, or 44% year-over-year[34] - IET revenue for Q3 2025 was $3,374 million, an increase of $429 million, or 15% year-over-year[35] - Adjusted net income attributable to Baker Hughes for Q3 2025 was $678 million, with adjusted earnings per share of $0.68[41] - Revenue for Q3 2025 was $7,010 million, a slight increase of 1.5% compared to $6,908 million in Q3 2024[10] - Net income attributable to Baker Hughes Company for Q3 2025 was $609 million, down 20.5% from $766 million in Q3 2024[10] - Basic income per Class A common stock decreased to $0.62 in Q3 2025 from $0.77 in Q3 2024, representing a decline of 19.5%[10] Cash Flow and Assets - Cash flow from operating activities was $929 million, with free cash flow at $699 million for the quarter[26] - Free cash flow for Q3 2025 was $239 million, down from $699 million in Q2 2025[42] - Total current assets increased to $17,529 million as of September 30, 2025, compared to $17,211 million at the end of 2024, reflecting a growth of 1.8%[46] - Cash and cash equivalents decreased to $2,693 million at the end of Q3 2025 from $3,364 million at the end of 2024, a decline of 19.9%[46] - Net cash flows provided by operating activities for the nine months ended September 30, 2025, were $2,148 million, slightly up from $2,142 million in the same period of 2024[48] - The company reported net cash used in investing activities of $1,651 million for the nine months ended September 30, 2025, compared to $799 million in the same period of 2024[48] - Dividends paid in Q3 2025 amounted to $227 million, an increase from $628 million in Q3 2024[48] Acquisitions and Strategic Initiatives - The company announced its intent to acquire Chart Industries, Inc. for approximately $13.6 billion, enhancing its portfolio in high-growth markets[8] - Baker Hughes completed the acquisition of Continental Disc Corporation, expected to expand its position in flow and pressure control markets[9] - The company expects full-year orders to exceed prior midpoint estimates, driven by strong visibility on expected awards in the fourth quarter[4] Market Performance - North America revenue for OFSE was $980 million, up $52 million, or 6% sequentially[31] - International revenue for OFSE was $2,656 million, down $34 million, or 1% sequentially[31] Future Outlook - The company has scheduled an investor conference call for October 24, 2025, to discuss management's outlook and results[50] - Baker Hughes continues to focus on innovative technologies and services to enhance energy efficiency and sustainability[54]