Baker Hughes Q2 revenue falls 2% to $6.7 billion as orders rise 49%
Baker Hughes reported second-quarter 2026 revenue of $6,742 million, down 2% from a year earlier, and GAAP net income of $681 million, down 3%. Adjusted EBITDA rose 2% to $1,231 million, and orders reached $10.5 billion, up 49%, with the company raising its full-year IET order outlook to more than $45 billion. For shareholders, the year-over-year sales and GAAP profit declines contrast with stronger orders, adjusted profit and a larger order outlook.
Key points
- Revenue was $6,742 million, up 2% sequentially and down 2% year over year; GAAP diluted EPS was $0.68 versus $0.71 a year earlier.
- Adjusted diluted EPS was $0.64, up from $0.63 in the second quarter of 2025; adjusted EBITDA was $1,231 million.
- IET orders were $7,088 million, and the company raised its Horizon 2 (2026-2028) IET orders outlook to more than $45 billion.
- The Chart Industries acquisition closed in July 2026, and the sale of Waygate Technologies to Hexagon was announced for about $1.45 billion before closing adjustments.
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 27, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.