Strong Q2 beat with record IET orders and raised segment guidance signals accelerating demand in LNG, data centers, and power generation. Monitor the Chart acquisition integration and Middle East headwinds for margin impact. The stock may re-rate higher on the orders momentum, but the 2% revenue decline and maintained full-year guidance cap upside.
Price Chart
Executive Summary
Baker Hughes reported Q2 2026 adjusted EPS of $0.64, beating consensus of $0.49 by 31%, on revenue of $6.74B (3.6% above $6.51B estimate). Record IET orders of $7.1B (up 101% YoY) drove a 1.6x book-to-bill and raised segment order guidance, while free cash flow surged to $1.1B. Revenue declined 2% YoY due to dispositions, and overall guidance was maintained.
Key Financial Metrics
Key Facts
- Adjusted EPS $0.64 vs consensus $0.49 (+31% beat)
- Revenue $6.74B vs consensus $6.51B (+3.6% beat)
- Record IET orders $7.1B, up 101% YoY; IET RPO hit record $37.1B
- Raised full-year IET order guidance to >$45B (Horizon 2)
- Free cash flow $1.1B, up from $239M in prior-year quarter
- Completed Chart Industries acquisition (NYSE: GTLS) in July 2026
- Announced sale of Waygate Technologies to Hexagon for ~$1.45B
- OFSE EBITDA $605M, above guidance high end despite Middle East disruptions
Financial Impact
Adjusted EPS beat by $0.15 (31%), revenue beat by $232M (3.6%), free cash flow $1.1B vs $239M YoY
Risk Factors
- Middle East operational disruptions and inflationary cost pressures
- Integration risk from Chart Industries acquisition ($7.1B all-cash)
- Revenue decline from dispositions (PSI, SPC) may persist
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3333230 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 13, 2026 18d ago | Press Release | $56.78 $57.83 | ▲ +1.85% | ▲ +1.74% | $56.00 (−1.37%) |
Sep 9, 2026 23d ago | 8-K | $63.64 $56.32 | ▼ −11.50% | ▼ −10.41% | $56.00 (−12.01%) |
Sep 4, 2026 28d ago | Press Release | $63.50 $56.78 | ▼ −10.58% | ▼ −9.37% | $56.00 (−11.81%) |
Jul 27, 2026 9w ago | 8-K | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 26, 2026 9w ago | Press Release | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 26, 2026 9w ago | Press Release | $60.59 $60.49 | ▼ −0.17% | ▼ −1.24% | $56.00 (−7.58%) |
Jul 16, 2026 11w ago | 8-K | $56.54 $56.09 | ▼ −0.80% | ▲ +0.87% | $56.00 (−0.96%) |
Jul 1, 2026 13w ago | 144 | $53.82 $54.47 | ▼ −1.21% | ▼ −0.95% | $56.00 (−4.05%) |
Jun 22, 2026 14w ago | 8-K | $59.15 $56.56 | ▼ −4.38% | ▼ −2.31% | $56.00 (−5.33%) |
Jun 16, 2026 15w ago | Insider Cluster | $60.07 $56.38 | ▼ −6.14% | ▼ −5.10% | $56.00 (−6.78%) |
US Market Status
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