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Baker Hughes Company (BKR) investor relations material
Baker Hughes Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary24 Oct, 2025
Executive summary
Delivered strong Q3 2025 results with revenue of $7.0B, adjusted EBITDA of $1.24B, and margin of 17.7%, driven by robust IET growth and record orders, despite OFSE softness.
Orders reached $8.2B, with IET orders at $4.1B and record IET RPO of $32.1B, supporting long-term revenue visibility.
Net income attributable was $609M, with GAAP diluted EPS of $0.61 and adjusted EPS of $0.68.
Major portfolio actions included the completed $553M acquisition of Continental Disc Corporation, the pending $13.6B Chart Industries acquisition, and planned divestitures of PSI and SPC.
Significant commercial wins across LNG, power generation, and subsea, with technology deployments in LNG, ammonia, and geothermal projects.
Financial highlights
Adjusted EBITDA was $1.24B, up 2% year-over-year, with a margin of 17.7%; revenue was $7.0B, up 1% year-over-year.
Free cash flow reached $699M, with cash and equivalents at $2.7B at quarter end.
Adjusted diluted EPS was $0.68, up 9% sequentially and 3% year-over-year; net income for Q3 2025 was $609M.
Book-to-bill ratio was 1.2 for both total and IET segments; RPO ended at $35.3B, with IET RPO at $32.1B.
Dividends paid YTD: $683M; share repurchases: $384M for 9.8M shares.
Outlook and guidance
Raised full-year adjusted EBITDA guidance midpoint to $4.74B; FY 2025 revenue guidance: $27.0B–$27.8B.
IET revenue and EBITDA midpoints increased to $13.05B and $2.4B, respectively; OFSE revenue midpoint at $14.35B.
IET orders guidance midpoint raised by $500M to $14B; targeting 20% total company margins by 2028.
FCF conversion expected at 45–50%; adjusted effective tax rate at 25–30%.
Portfolio positioned for long-term growth across energy value chain, with focus on lower-emission solutions and new energy opportunities.
OFSE margin recovery drivers?
Chart acquisition's expected financial impact?
New Energy solutions revenue contribution?
Chart integration: Accelerate synergy capture?
Power gen: Diverse opportunities beyond data centers?
OFSE margin resilience drivers for 2026?
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Next Baker Hughes Company earnings date
Q4 202523 Jan, 2026
Next Baker Hughes Company earnings date
Q4 202523 Jan, 2026
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Frequently asked questions
Oil Field Services
Baker Hughes is an American company headquartered in Houston Texas. It is one of the largest oil field services companies in the world and provides various services and products for the larger oil industry. Baker Hughes provides various types of products and services within oil well drilling, production, and other critical steps in oil exploitation. The company has a global reach, operating in well over 100 countries worldwide and its shares are listed on the NYSE.
The Result of a Merger
Baker Hughes traces its origins back to the early 20th century through the merger of two significant companies: Hughes Tool Company and Baker Oil Tool Company. Hughes Tool Company, founded in 1908 by Howard Hughes Sr., introduced the dual-cone rotary drill bit which revolutionized the drilling industry. Reuben C. Baker, the founder of Baker Oil Tool Company in 1907, patented the casing shoe, a device that enhanced the drilling process.
Their merger in 1987 marked the formation of Baker Hughes Incorporated, creating an industry giant that offered a comprehensive suite of services and products for oil exploration and production worldwide. In 2017, GE became a majority owner of Baker Hughes. However, their ownership proved to be short-lived as GE divested from the company in 2020.
The Black Gold
Baker Hughes is one of the foremost oilfield service companies in the world, providing a broad spectrum of technologies and services to the global oil industry. The company plays an instrumental role in the entire lifecycle of oil exploration and production.
From the inception of an oil well to its eventual decline, Baker Hughes offers services and solutions at every stage. In the upstream sector, they provide exploration services, with advanced drilling technologies that facilitate efficient and safe extraction of oil. Their offerings include drill bits, drilling fluids, and machinery, all optimized for varying geological terrains and challenges. In addition to drilling, Baker Hughes provides services and products related to well completions, production systems, and reservoir evaluation to optimize output and prolong well life. The company's integrated approach ensures that oil producers can maximize their yields, reduce operational costs, and maintain safety standards. While Baker Hughes is one of the leaders in its field, it faces competition from companies such as Schlumberger and Halliburton.
Not Just Oil
The company is also active within the gas sector. Baker Hughes offers a host of technologies and services tailored for gas exploration, production, and processing. The company delivers solutions for both conventional and unconventional gas reservoirs, including shale gas, tight gas, and coalbed methane. Beyond exploration and production, Baker Hughes provides equipment and services for liquefied natural gas (LNG) processing, enabling the transport and storage of gas across global markets.
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