Baker Hughes Company

“Baker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain. Built on a century of experience and conducting business in over 120 countries”

“increasing commercial synergy opportunities across our two operating segments: Oilfield Services & Equipment ("OFSE") and Industrial & Energy Technology ("IET")”

“Our revenue is predominantly generated from the sale of products and services to major, national, and independent oil and natural gas companies worldwide”

“We sell to our customers through direct and indirect channels. Our primary sales channel is through our direct sales force”

“This portfolio includes integrated solutions for flare reduction, CCUS, hydrogen production, transportation, storage and distribution, geothermal and clean power, and emission-abatement solutions... strategic partnerships with companies such as Fervo Energy, Frontier Carbon Solutions, HIF Global, and NET Power”

“Revenues $27,733 Costs and expenses 24,848 Net income 2,767 Net income attributable to Baker Hughes Company 2,731”

“Outside North America, customer spending is influenced by Brent oil prices. In North America, customer spending is influenced by WTI oil prices and natural gas prices as measured by the Henry Hub Natural Gas Spot Price.”

“We currently have extensive commercial relationships with GE Vernova and GE Aerospace. Although we have long-term contractual frameworks in place with both GE Vernova and GE Aerospace, if either GE Vernova or GE Aerospace were to discontinue or reduce their business with the Company”

“we closed the acquisition of Continental Disc Corporation ("CDC") on August 7, 2025”

“sustained demand growth driven by population expansion, rising living standards, industrialization, electrification, and the rapid proliferation of digital infrastructure”

“The sale of Precision Sensors & Instrumentation to Crane Company and the creation of the Surface Pressure Control joint venture with Cactus closed on January 1, 2026”

“In 2025, we booked $1 billion of orders tied to data center applications. We now expect to book approximately $3 billion of data center-related orders between 2025 and 2027”

“each are among the top providers for the majority of the product lines in the markets they serve”

“including $600 million R&D spend and being granted more than 1,400 patents worldwide in 2025”

“Continued signs of tightness in the aeroderivative supply chain, including extended lead times, will remain a factor to monitor and manage operationally”

“IET outlook: We see sustained strength in LNG and gas infrastructure, as well as increasing opportunities to leverage our versatile portfolio to enhance IET's position across industrial and distributed power markets, with a growing emphasis on data centers”

“OFSE outlook: We expect continued soft market conditions through most of 2026, reflecting customer caution amid oil price uncertainty, with the potential for modest improvement later in the year as excess oil supply begins to moderate”

“the Company generated revenues of $27.7 billion, a decrease of $0.1 billion compared to 2024. IET revenue increased $1.2 billion, or 10%, driven by strong growth in Gas Technology Equipment ("GTE") and Gas Technology Services ("GTS"). OFSE revenue decreased $1.3 billion, or 8%, driven by a decline in revenue in all regions. Net income was $2.6 billion, a decrease of $0.4 billion, or 13%”

“we increased our quarterly dividend by two cents to $0.23 per share. For the full year of 2025, we returned a total of $1.3 billion to shareholders in the form of dividends and share repurchases”

“These agreements have an average contract term of greater than 10 years... such adjustments generated earnings of $18 million, $(11) million and $15 million for the three years ended December 31, 2025, 2024 and 2023”

“Total off-balance sheet arrangements were approximately $6.2 billion at December 31, 2025... purchase obligations for each of the five years in the period ending December 31, 2030 of $1,840 million, $292 million, $146 million, $45 million, and $35 million, respectively, and $22 million in the aggregate thereafter”

“The Company's total accrual for environmental remediation was $53 million and $54 million at December 31, 2025 and 2024, respectively.”

“International developments focused on restricting or otherwise disincentivizing GHG emissions include the United Nations Framework Convention on Climate Change... the EU and UK Emissions Trading Systems; the EU Methane Regulation”

“The potential slowdown and shift in the energy transition could have an adverse effect on the demand for our clean energy technologies and services.”

“During 2025, we saw a decline in global upstream capital spending as a result of ongoing geopolitical tensions, uncertainty around international trade policy, and operator concerns about the accelerated return of idled supply from the Organization of the Petroleum Exporting Countries and its allies ("OPEC+")”

“Additional disruptions within our supply chain resulting from factors including, but not limited to, sanctions, tariffs, conflict, inflation, high interest rates, severe weather and natural disasters, and shortages in labor supply, have had and may continue to have an impact on our business”