BKR

EX-99.1

2 earningsreleaseex991093020.htm

EX-99.1

Document

Exhibit 99.1

Baker Hughes Announces Third-Quarter 2026 Results

Third-quarter highlights

•Orders of $10.8 billion, including $5.9 billion of IET orders.

•RPO of $46.4 billion, including record IET RPO of $39.4 billion.

•Revenue of $8.0 billion.

•Attributable net income of $411 million.

•GAAP diluted EPS of $0.41 and adjusted diluted EPS* of $0.70.

•Adjusted EBITDA* of $1,415 million.

•Cash flows from operating activities of $1,005 million and free cash flow* of $769 million.

HOUSTON & LONDON (October 27, 2026) – Baker Hughes Company (Nasdaq: BKR) ("Baker Hughes" or the "Company") announced results today for the third quarter of 2026.

"Baker Hughes delivered another strong quarter, reflecting disciplined operational execution and broad-based commercial momentum across the company. Performance across IET, OFSE and Chart highlights the strength of our expanded portfolio and the growing value of our complementary capabilities as we build a more industrialized energy solutions company positioned across attractive energy and industrial markets."

"Alongside continued strong operational results, IET achieved its second-largest order quarter, booking $5.9 billion and driving RPO to another record. Broad-based demand across data centers, space, LNG and gas infrastructure, together with ongoing capacity expansions, reinforces our long-term growth outlook and supports raising our full-year IET order guidance and Horizon 2(1) IET order outlook to $50 billion plus. The resulting backlog growth provides greater revenue visibility while expanding our installed base and long-term aftermarket opportunity."

"OFSE delivered another solid quarter, supported by growing momentum across international markets led by a meaningful improvement in the Middle East. We see additional opportunity as customers increasingly prioritize maximizing recovery and extending asset life, areas where the breadth of Baker Hughes' capabilities positions us to deliver more integrated solutions through our Mature Assets Solutions offering."

"Chart delivered a solid first quarter as part of Baker Hughes. Integration is also progressing at a strong pace, and early synergy actions reinforce our confidence in the value creation opportunity ahead. By connecting complementary technologies, installed bases and customer relationships, we are expanding our ability to pursue larger opportunities and deliver more integrated solutions across energy and industrial markets."

"Energy security, rising demand for AI and emerging opportunities across growth markets are creating new opportunities across our energy upstream, energy infrastructure and industrial end markets. With a record RPO, robust order pipeline, growing installed base and inflecting energy upstream market, Baker Hughes is well positioned to deliver durable growth, stronger earnings power and long-term value for shareholders," concluded Simonelli.

* Non-GAAP measure. See reconciliations in the section titled "Reconciliation of GAAP to non-GAAP Financial Measures."

(1) Horizon 2 represents 2026-2028.

1

Baker Hughes Company News Release

Baker Hughes Company Announces Third-Quarter 2026 Results

Three Months EndedVariance

(in millions except per share amounts) September 30, 2026June 30, 2026September 30, 2025SequentialYear-over-year

Orders$10,764 $10,501 $8,207 2%31%

Revenue8,025 6,742 7,010 19%14%

Net income attributable to Baker Hughes 411 681 609 (40%)(33%)

Adjusted net income attributable to Baker Hughes* 695 640 678 8%2%

Adjusted EBITDA* 1,415 1,231 1,238 15%14%

Diluted earnings per share (EPS)0.41 0.68 0.61 (40%)(33%)

Adjusted diluted EPS* 0.70 0.64 0.68 8%2%

Cash flow from operating activities 1,005 1,345 929 (25%)8%

Free cash flow* 769 1,109 699 (31%)10%

* Non-GAAP measure. See reconciliations in the section titled "Reconciliation of GAAP to non-GAAP Financial Measures."

Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.

"F" is used in the above table when variance is above 100%. Additionally, "U" is used when variance is below (100)%.

Quarter Highlights

Executing our portfolio management strategy

•Completed the previously announced all-cash acquisition of Chart Industries, Inc. ("Chart"), adding complementary capabilities that strengthen Baker Hughes’ portfolio and advance its strategy to deliver more integrated solutions across attractive industrial and energy markets, while increasing its installed base and recurring aftermarket opportunities.

Key awards and technology achievements

Leveraging enterprise-wide capabilities

•Expanded Baker Hughes’ relationship with Venture Global through a major LNG award for the Plaquemines expansion, including IET equipment across four liquefaction blocks comprising eight modules, in addition to Chart cold boxes.

Industrial & Energy Technology

Industrial & Energy Technology (“IET”) delivered broad-based

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