Earnings Releases·Oct 27, 2026, 5:05 PM ET

Baker Hughes — Third Quarter 2026 Earnings Summary

GAAP diluted EPS fell 40% sequentially and 33% year-over-year to $0.41, while adjusted diluted EPS rose 8% sequentially and 2% year-over-year to $0.70; revenue increased 19% sequentially and 14% year-over-year to $8.0 billion.
Management raised full-year IET order guidance and increased the Horizon 2 (2026-2028) IET order outlook to over $50 billion, citing record Remaining Performance Obligations (RPO) of $46.4 billion and robust demand across data centers, space, and LNG.
Completed the all-cash acquisition of Chart Industries for $14.15 billion on July 16, 2026, resulting in long-term debt rising to $17.476 billion and total assets reaching $59.063 billion.
IET orders reached $5.9 billion with 42% year-over-year growth driven by climate technology solutions, while OFSE orders rose 19% sequentially to $4.047 billion despite a 1% year-over-year decline.
Cash flow from operations decreased 25% sequentially to $1,005 million, and free cash flow dropped 31% sequentially to $769 million, primarily due to transaction-related costs of $158 million and integration expenses.