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Sep 30, 2025
Baker Hughes Q3 2025 Earnings Report
reported steady third-quarter 2025 performance with modest revenue growth and continued strength in its Industrial & Energy Technology segment.
Key Takeaways
Baker Hughes delivered solid third-quarter 2025 results with revenue of $7.0 billion and adjusted EPS of $0.68. Orders rose 23% year-over-year to $8.2 billion, driven by record Industrial & Energy Technology demand. Despite a 20% decline in net income due to acquisition costs and margin pressure in oilfield services, adjusted EBITDA increased 2% year-over-year to $1.24 billion. Cash flow from operations and free cash flow remained strong at $929 million and $699 million, respectively.
Revenue of $7.0 billion, up 1% year-over-year.
Net income of $609 million, with adjusted net income of $678 million.
Adjusted EBITDA reached $1.24 billion, up 2% year-over-year.
Free cash flow totaled $699 million, supported by robust operations and disciplined capital spending.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Baker Hughes expects continued strength in LNG, power generation, and new energy markets to support future growth, while managing margin pressure in oilfield services. The company remains focused on portfolio expansion and operational efficiency.
Positive Outlook
- Record $32.1 billion IET backlog supports future revenue visibility.
- Strong demand for LNG and energy transition technologies.
- Solid order momentum across gas technology and subsea systems.
- Ongoing integration of recent acquisitions enhances portfolio value.
- Disciplined cost control and strong cash generation position the company for stability.
Challenges Ahead
- Oilfield Services margins softened amid inflation and lower productivity.
- Net income decreased 20% year-over-year due to acquisition costs.
- Climate Technology Solutions revenue declined 56% year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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