Baker Hughes Co on Thursday reported $678 million in adjusted web earnings for the third quarter, up 9 p.c quarter-on-quarter and two p.c year-on-year.
Its adjusted diluted earnings per share of $0.68 beat the Zacks Consensus Estimate of $0.61. The Houston, Texas-based firm maintained its quarterly dividend at $0.23 per share.
Earlier than adjustment for nonrecurring gadgets, web revenue got here at $609 million, down 13 p.c in comparison with the prior three-month interval and 20 p.c in opposition to Q3 2024, in accordance with outcomes printed by Baker Hughes on-line.
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Income rose one p.c sequentially and year-over-year to $7.01 billion. The rise was pushed by the commercial and power know-how (IET) section, which noticed income develop two p.c quarter-on-quarter and 15 p.c year-on-year to $3.37 billion. The opposite section, oilfield providers and tools (OFSE), inched up one p.c quarter-on-quarter however fell eight p.c year-on-year to $3.64 billion.
OFSE income from Asia and North America rose each quarter-on-quarter and year-on-year to $1.45 billion and $980 million respectively. OFSE income from Latin America and the Europe, Sub-Saharan Africa and CIS grouping dropped each quarter-on-quarter and year-on-year to $603 million and $599 million respectively.
OFSE orders in Q3 2025 totaled $4.07 billion, up 16 p.c quarter-on-quarter and 7 p.c year-on-year.
IET orders totaled $4.14 billion, up 17 p.c quarter-on-quarter and 44 p.c year-on-year.
Working actions generated $929 million in money stream. Free money stream was $699 million.
Adjusted EBITDA landed at $1.24 billion, up two p.c quarter-on-quarter and year-on-year.
“The sequential improve in adjusted web earnings and Adjusted EBITDA was primarily pushed by favorable combine, favorable overseas alternate charges (FX) and structural cost-out initiatives, partially offset by decrease value productiveness. The year-over-year improve in adjusted web earnings and adjusted EBITDA was pushed by structural cost-out initiatives and favorable FX, partially offset by decrease quantity and price inflation”, Baker Hughes stated.
Baker Hughes chair and chief govt Lorenzo Simonelli stated, “This efficiency displays continued momentum from our Enterprise System deployment, optimistic developments in Gasoline Know-how and powerful outperformance in U.S. land, the place our leverage to production-related exercise provides us a transparent benefit”.
“Whereas OFSE margins softened, reflecting the broader macro backdrop, IET delivered one other quarter of robust efficiency, driving consolidated adjusted EBITDA margins increased year-over-year”, Simonelli added. “This optimistic margin development highlights the resilience of our portfolio and the inspiration we have constructed via disciplined execution.
“We additionally proceed to learn from robust market tailwinds in LNG, energy era and offshore, securing over $4 billion of IET orders for under the third time in our historical past, together with report SSPS orders within the quarter. IET backlog grew three p.c sequentially, reaching a brand new report of $32.1 billion – additional reinforcing the sturdiness and visibility of our development outlook in IET”.
Baker Hughes had $17.53 billion in present belongings together with $2.69 billion in money and money equivalents on the finish of Q3 2025.
Present liabilities stood at $12.44 billion together with $68 million in short-term debt.
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