Baker Hughes Company has announced its second-quarter 2025 results, revealing some interesting trends. Orders for the quarter totaled $7.0 billion, showing a 9% increase sequentially but a 7% decrease year-over-year. Revenue for the quarter was $6.9 billion, down 3% year-over-year. Attributable net income for the quarter was $701 million, reflecting a 74% increase sequentially and a 21% increase year-over-year. Adjusted EBITDA stood at $1,212 million, up 17% sequentially and 7% year-over-year. Cash flows from operating activities were $510 million, showing a 28% decrease sequentially but a 47% increase year-over-year. Free cash flow for the quarter was $239 million, down 47% sequentially.
The company's total book-to-bill ratio in the second quarter of 2025 was 1.0, and the RPO was $34 billion, with IET RPO standing at a record $31.3 billion, up 3% sequentially.
In terms of segment results, the Oilfield Services & Equipment (OFSE) segment reported orders of $3.5 billion for the quarter, a 7% increase sequentially. Revenue for OFSE was $3.6 billion, up 3% sequentially. The segment's EBITDA was $677 million, showing a 9% increase sequentially.
The company also highlighted its strategic transactions during the quarter, including forming a joint venture with a subsidiary of Cactus, Inc., selling the Precision Sensors & Instrumentation product line within Industrial & Energy Technology (IET) to Crane Company, and acquiring Continental Disc Corporation for approximately $540 million.
Furthermore, the company continued to secure critical data center projects, with year-to-date data center awards of more than $650 million. The IET segment received an award to supply 30 Novalt™ turbines, representing the company's largest data center award to date.
As a result of these announcements, the company's shares have moved 10.91% on the market, and are now trading at a price of $44.385. For more information, read the company's full 8-K submission here.
