3Q 2025 Results October 24, 2025 Chairman & Chief Executive Officer Copyright 2024 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is to be used only for the benefit of Baker Hughes and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of Baker Hughes. Copyright 2025 Baker Hughes Company. All rights reserved. The inf ...

Third-quarter highlights Orders of $8.2 billion, including $4.1 billion of IET orders.RPO of $35.3 billion, including record IET RPO of $32.1 billion.Revenue of $7.0 billion, up 1% year-over-year.Attributable net income of $609 million.GAAP diluted EPS of $0.61 and adjusted diluted EPS* of $0.68.Adjusted EBITDA* of $1,238 million, up 2% year-over-year.Cash flows from operating activities of $929 million and free cash flow* of $699 million. HOUSTON and LONDON, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Baker Hughes C ...

Core Insights - Baker Hughes reported strong second-quarter results for 2025, with adjusted EBITDA margins increasing by 170 basis points year-over-year to 17.5%, despite a modest decline in revenue [3][4] - The company achieved IET orders totaling $3.5 billion, contributing to a record backlog, and maintained confidence in meeting full-year order guidance [4][6] - Strategic transactions were announced to optimize the portfolio, including a joint venture, a sale of a product line, and an acquisition, aimed at enhancing earnings durability and shareholder value [4][10][11] Financial Performance - Total revenue for the quarter was $6.91 billion, down 3% year-over-year, with net income attributable to Baker Hughes at $701 million, reflecting a 21% increase year-over-year [6][25] - Adjusted net income was $623 million, up 10% year-over-year, and adjusted EBITDA was $1.21 billion, up 7% year-over-year [26][27] - Cash flow from operating activities was $510 million, with free cash flow of $239 million, indicating a 47% decrease from the previous quarter [30][49] Orders and Backlog - Total orders for the quarter reached $7.03 billion, with a book-to-bill ratio of 1.0, while IET's book-to-bill ratio was 1.1 [24][39] - Remaining Performance Obligations (RPO) stood at $34 billion, with IET RPO at $31.3 billion, reflecting a 3% sequential increase [29] Segment Performance - Oilfield Services & Equipment (OFSE) reported orders of $3.5 billion, with revenue of $3.62 billion, down 10% year-over-year [35][36] - Industrial & Energy Technology (IET) saw orders of $3.53 billion and revenue of $3.29 billion, marking a 5% year-over-year increase [37][40] - IET's segment EBITDA increased by 18% year-over-year to $585 million, driven by positive pricing and productivity [41] Strategic Transactions - The company entered a joint venture with Cactus, Inc. for the OFSE Surface Pressure Control product line, valued at approximately $345 million [9] - Baker Hughes sold the Precision Sensors & Instrumentation product line for approximately $1.15 billion, enhancing reinvestment capabilities [10] - The acquisition of Continental Disc Corporation for approximately $540 million aims to strengthen the IET Industrial Products portfolio [11] Technology and Market Developments - Baker Hughes secured significant awards in data center projects, including a contract for 30 NovaLT™ turbines, which will provide up to 500 MW of power [12][15] - The company is expanding its presence in the New Energy sector, with year-to-date bookings totaling $1.25 billion, including a major CCS order [17][40]

Core Insights - Baker Hughes reported strong first-quarter results for 2025, achieving multiple records and demonstrating resilience despite macroeconomic challenges [2][3] - The company is focused on operational transformation and margin improvement across its segments, positioning itself for sustainable growth [3][4] Financial Performance - Total orders for the quarter were $6.5 billion, with $3.2 billion coming from the Industrial & Energy Technology (IET) segment [6] - Revenue for the quarter was $6.4 billion, consistent year-over-year, while net income attributable to Baker Hughes was $402 million, a decrease of 66% sequentially [5][6] - Adjusted net income was $509 million, down 27% sequentially but up 19% year-over-year, with adjusted EBITDA at $1,037 million, reflecting a 10% increase year-over-year [5][6][22] Segment Performance - In the IET segment, orders totaled $3.2 billion, including significant contracts in LNG and data center power solutions, while revenue was $2.9 billion, up 11% year-over-year [4][33] - The Oilfield Services & Equipment (OFSE) segment saw orders of $3.3 billion, down 12% sequentially, with revenue of $3.5 billion, a decrease of 10% sequentially [30][31] Strategic Developments - Baker Hughes expanded its leadership in LNG with a liquefaction train award from Bechtel and secured key agreements for gas turbine technology with LNG operators [8][9] - The company is advancing its commitment to sustainable power solutions, particularly for data centers, through partnerships aimed at carbon capture and storage [11][12] Market Outlook - Despite broader macroeconomic uncertainties, Baker Hughes remains confident in its strategy and the resilience of its portfolio, aiming for sustainable growth in shareholder value [4][3] - The company’s remaining performance obligations (RPO) stood at $33.2 billion, with a record IET RPO of $30.4 billion, indicating a strong order backlog [24][6]