Baker Hughes Company (BKR) Q3 2025 Financial Results Summary
· Stocks · QuoteReporter
Baker Hughes Company (BKR) Q3 2025 Financial Results Summary
Baker Hughes Company announced its third-quarter 2025 results on October 23, 2025. The report highlights various financial metrics and business developments for the quarter.
Third-Quarter Highlights
- Orders: $8.2 billion, including $4.1 billion of Industrial & Energy Technology (IET) orders.
-
Growth: 17% sequentially, 23% year-over-year.
-
Remaining Performance Obligations (RPO): $35.3 billion, with a record IET RPO of $32.1 billion.
-
Growth: Increased by $1.3 billion sequentially.
-
Revenue: $7.0 billion, reflecting a marginal increase.
-
Growth: 1% year-over-year.
-
Net Income (attributable to Baker Hughes): $609 million.
-
Decline: 13% sequentially, 20% year-over-year.
-
GAAP Diluted EPS: $0.61.
-
Decline: 13% sequentially, 20% year-over-year.
-
Adjusted Diluted EPS: $0.68.
-
Growth: 9% sequentially, 3% year-over-year.
-
Adjusted EBITDA: $1,238 million.
-
Growth: 2% sequentially, 2% year-over-year.
-
Cash Flows from Operating Activities: $929 million, up significantly.
-
Increase: 82% sequentially, down 8% year-over-year.
-
Free Cash Flow: $699 million.
- Increase: Up significantly from $239 million in the previous quarter.
- Decline: 7% year-over-year.
Operational Highlights
- Baker Hughes executed a portfolio management strategy by announcing its plans to acquire Chart Industries, Inc. for approximately $13.6 billion.
- Completed the acquisition of Continental Disc Corporation, boosting its portfolio in flow and pressure control markets.
Segment Performance
Oilfield Services & Equipment (OFSE)
- Orders: $4.1 billion.
-
Growth: 16% sequentially, 7% year-over-year.
-
Revenue: $3.6 billion.
-
Growth: 1% sequentially, Decline: 8% year-over-year.
-
EBITDA: $671 million, with an EBITDA margin of 18.5%.
- Decline: 1% sequentially, 12% year-over-year.
Industrial & Energy Technology (IET)
- Orders: $4.1 billion.
-
Growth: 44% year-over-year.
-
Revenue: $3.4 billion.
-
Growth: 15% year-over-year.
-
EBITDA: $635 million.
- Growth: 20% year-over-year, with an EBITDA margin of 18.8%.
Financial Metrics
- Book-to-Bill Ratio: 1.2 for the quarter.
- Depreciation and Amortization: Amounted to $282 million.
- Income Tax Expense: $204 million for the quarter.
Dividend Declaration
- Baker Hughes declared a quarterly dividend of $0.23 per Class A common share, marking an increase compared to $0.21 in the same quarter last year.
Cash Flow and Investments
- Capital Expenditures: Net expenditures of $230 million.
- $148 million for OFSE.
- $67 million for IET.
Baker Hughes continues to focus on strategic acquisitions and technological advancements in its offerings, reinforcing its position in the energy sector while navigating broader macroeconomic challenges.
| 2025 | 2024 | 2025 | 2024 | |
|---|---|---|---|---|
| Revenue | $7,010 | $6,908 | $20,347 | $20,465 |
| Costs and expenses: | ||||
| Cost of revenue | 5,309 | 5,208 | 15,556 | 15,678 |
| Selling, general and administrative | 607 | 612 | 1,751 | 1,873 |
| Research and development costs | 146 | 158 | 453 | 480 |
| Other (income) expense, net | 71 | -134 | 77 | -182 |
| Interest expense, net | 56 | 55 | 161 | 143 |
| Income before income taxes | 821 | 1,009 | 2,349 | 2,473 |
| Provision for income taxes | -204 | -235 | -612 | -656 |
| Net income | 617 | 774 | 1,737 | 1,817 |
| Less: Net income attributable to | 8 | 8 | 25 | 17 |
| noncontrolling interests | ||||
| Net income attributable to Baker Hughes | $609 | $766 | $1,712 | $1,800 |
| Per share amounts: | ||||
| Basic income per Class A common stock | $0.62 | $0.77 | $1.73 | $1.81 |
| Diluted income per Class A common stock | $0.61 | $0.77 | $1.72 | $1.80 |
| Weighted average shares: | ||||
| Class A basic | 986 | 993 | 988 | 996 |
| Class A diluted | 992 | 999 | 994 | 1,001 |
| Cash dividend per Class A common stock | $0.23 | $0.21 | $0.69 | $0.63 |
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $2,693 | $3,364 |
| Current receivables, net | 6,555 | 7,122 |
| Inventories, net | 5,036 | 4,954 |
| All other current assets | 3,245 | 1,771 |
| Total current assets | 17,529 | 17,211 |
| Property, plant and equipment, less | 5,264 | 5,127 |
| accumulated depreciation | ||
| Goodwill | 6,051 | 6,078 |
| Other intangible assets, net | 4,180 | 3,951 |
| Contract and other deferred assets | 1,712 | 1,730 |
| All other assets | 4,497 | 4,266 |
| Total assets | $39,233 | $38,363 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $4,196 | $4,542 |
| Short-term debt | 68 | 53 |
| Progress collections and deferred income | 5,511 | 5,672 |
| All other current liabilities | 2,663 | 2,724 |
| Total current liabilities | 12,438 | 12,991 |
| Long-term debt | 5,988 | 5,970 |
| Liabilities for pensions and other | 1,024 | 988 |
| postretirement benefits | ||
| All other liabilities | 1,455 | 1,359 |
| Equity | 18,328 | 17,055 |
| Total liabilities and equity | $39,233 | $38,363 |
| Outstanding Baker Hughes Company shares: | ||
| Class A common stock | 986 | 990 |