Baker Hughes Co. has recently released its 10-Q report, providing a detailed overview of the company's performance and financial position. Baker Hughes Co. is an energy technology company with a broad and diversified portfolio of technologies and services that span the energy and industrial value chain. The company operates through its two business segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET).
In the third quarter of 2025, Baker Hughes Co. generated revenues of $7.0 billion, representing a 1% increase compared to the third quarter of 2024. The Industrial & Energy Technology segment saw a significant increase in revenue, up 15% driven by strong growth in Gas Technology Equipment and Gas Technology Services. However, the Oilfield Services & Equipment segment experienced a decrease in revenue, down 8%, primarily due to a decline in international revenue.
The company's net income was $0.6 billion in the third quarter of 2025, marking a decrease of $0.2 billion, or 20%, compared to the same period in 2024. This decline was attributed to various factors, including a decrease in the market-to-market adjustment of certain equity securities, lower volume, decreased cost productivity, and transaction costs. However, the company reported progress in efforts to improve efficiencies and modernize its operations, resulting in improved profitability.
Baker Hughes Co. remains focused on its anticipated acquisition of Chart Industries, Inc., with the acquisition expected to close in mid-2026. Additionally, the company closed the acquisition of Continental Disc Corporation in August 2025. In terms of shareholder returns, Baker Hughes Co. returned $227 million to shareholders through dividends in the third quarter of 2025.
Looking ahead, the company expects continued soft operator activity in the Oilfield Services & Equipment segment for the remainder of 2025, with global upstream spending remaining constrained. However, the Industrial & Energy Technology segment anticipates continued strength in LNG and gas infrastructure, along with increasing opportunities to leverage its versatile portfolio across industrial and distributed power markets. Baker Hughes Co. also expects to see continued growth in new energy solutions focused on reducing carbon emissions for the energy and broader industrial sectors, including hydrogen, geothermal, carbon capture, utilization and storage, energy storage, clean power, and emissions abatement solutions.
In terms of sustainability, Baker Hughes Co. has committed to reducing Scope 1 and 2 carbon dioxide equivalent emissions from its operations by 50% by 2030 and achieving net-zero emissions by 2050. The company reported a 29.3% reduction in Scope 1 and 2 carbon dioxide equivalent emissions compared to its 2019 base year in its 2024 Corporate Sustainability Report.
The company's revenue is predominantly generated from the sale of products and services to major, national, and independent oil and natural gas companies worldwide, and is dependent on spending by customers for oil and natural gas exploration, field development, and production. The business is also influenced by oil and natural gas prices, as well as rig counts, which act as a leading indicator of market activity and reflect the relative strength of energy prices.
As a result of these announcements, the company's shares have moved 3.36% on the market, and are now trading at a price of $48.89. Check out the company's full 10-Q submission here.
