WS Investor
26 Jan 2026, 16:44
Baker Hughes Company reported solid fourth-quarter and full-year 2025 results, highlighted by strong orders, record backlog, and robust cash generation.
In Q4 2025, orders reached $7.9 billion, including $4.0 billion from Industrial & Energy Technology (IET), while revenue was $7.4 billion, flat year over year. Attributable net income totaled $876 million, with GAAP diluted EPS of $0.88 and adjusted diluted EPS of $0.78. Adjusted EBITDA rose 2% year over year to $1.34 billion, and free cash flow increased to $1.34 billion.
For full-year 2025, Baker Hughes generated $29.6 billion in orders, including a record $14.9 billion from IET, and achieved a record remaining performance obligation of $35.9 billion. Revenue totaled $27.7 billion, net income was $2.59 billion, and GAAP and adjusted diluted EPS both came in at $2.60. Adjusted EBITDA increased 5% year over year to a record $4.83 billion, while free cash flow reached a record $2.73 billion.
Management expects IET orders to remain strong in 2026 and projects mid-single-digit organic Adjusted EBITDA growth, supported by LNG, gas infrastructure, and power systems demand.
In Q4 2025, orders reached $7.9 billion, including $4.0 billion from Industrial & Energy Technology (IET), while revenue was $7.4 billion, flat year over year. Attributable net income totaled $876 million, with GAAP diluted EPS of $0.88 and adjusted diluted EPS of $0.78. Adjusted EBITDA rose 2% year over year to $1.34 billion, and free cash flow increased to $1.34 billion.
For full-year 2025, Baker Hughes generated $29.6 billion in orders, including a record $14.9 billion from IET, and achieved a record remaining performance obligation of $35.9 billion. Revenue totaled $27.7 billion, net income was $2.59 billion, and GAAP and adjusted diluted EPS both came in at $2.60. Adjusted EBITDA increased 5% year over year to a record $4.83 billion, while free cash flow reached a record $2.73 billion.
Management expects IET orders to remain strong in 2026 and projects mid-single-digit organic Adjusted EBITDA growth, supported by LNG, gas infrastructure, and power systems demand.
