Baker Hughes Company (BKR)
NASDAQ:BKR
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Earnings Data
Report Date
Jul 22, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.49Last Year’s EPS
0.63Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: management reported record IET orders, strong margin expansion (notably in IET), robust backlog/RPO and a strengthened balance sheet while executing portfolio actions and strategic partnerships. However, meaningful near-term headwinds persist—primarily from the Middle East conflict—which pressure OFSE revenue and create macro uncertainty. Management maintained full-year guidance ranges (with expectations slightly below midpoint), provided constructive Q2 segmentation, and emphasized progress on integration and divestitures. Overall, the positives (record orders, margin expansion, balance sheet strength, and portfolio momentum) materially outweigh the near-term geopolitical and transactional headwinds.Company Guidance
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $1.16 billion, exceeding guidance; adjusted EBITDA increased ~12% year-over-year and adjusted EBITDA margin rose 140 basis points YoY to 17.6%.
Adjusted EPS Growth
Adjusted earnings per share of $0.58, up 13% year-over-year (GAAP diluted EPS $0.93; $0.35 of adjusting items excluded).
Record IET Orders and Backlog
IET bookings reached a record $4.9 billion (third consecutive quarter > $4B); book-to-bill 1.5x; record Remaining Performance Obligation (RPO) of $33.1 billion (5th consecutive quarter milestone). Excluding transactions, RPO +3% sequential and +10% YoY.
IET Margin and EBITDA Outperformance
IET EBITDA increased 35% YoY to $678 million; IET EBITDA margin expanded 310 basis points to 20.2%; IET revenue $3.35 billion, +14% YoY.
Robust Order and Booking Momentum Across Key Businesses
Total company orders $8.2 billion in Q1. Power Systems orders of $1.4 billion; LNG equipment orders $1.2 billion; new energy bookings $1.4 billion supporting 2026 target of $2.4–2.6 billion.
Notable Commercial Wins and Strategic Partnerships
Major awards include: NovaLT16 gas turbine/data center integrated solution (1 GW), 25 BRUSH generators for Boom Supersonic (1.21 GW), Hitachi Energy synchronous condensers (Australia), Hydrostor CAES engineering (up to 1.4 GW potential equipment), Qatar Energy 2 mega trains (16 MTPA) and multi-year downstream agreement with Marathon across 12 refineries and 2 renewable fuels facilities.
Digital Momentum and Aftermarket Strength
Cordant power-related orders doubled YoY; Cordant power momentum follows >80% YoY power order growth in 2025. Lucida/Leucipa digital deployments continue (technologies active on ~75,000 wells).
Solid Balance Sheet and Capital Actions
Net debt to adjusted EBITDA ratio improved to 0.32x; cash $14.8 billion and liquidity $17.8 billion following debt offering (raised $6.5B U.S. bonds and EUR 3B European bonds). Expect ~ $3 billion gross proceeds from 2026 portfolio actions (Waygate divestiture, PSI sale and SPC JV) and $1.6 billion from HMH IPO / Waygate sale.
Free Cash Flow and Cash Generation
Generated $210 million of free cash flow in Q1 despite Q1 seasonality and some customer payment delays; company targeting net-debt/EBITDA reduction to 1–1.5x within 24 months after Chart close.
Confident Outlook for IET and Horizon 2 Targets
Management expects IET order pipeline momentum to potentially exceed the $40 billion Horizon 2 target and expects to achieve at least the midpoint ($14.5 billion) of full-year IET order guidance and at least the midpoint of full-year IET EBITDA guidance ($2.7 billion).
BKR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BKR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $64.49 | $68.94 | +6.90% |
Oct 23, 2025 | $48.48 | $46.90 | -3.25% |
Jul 22, 2025 | $39.47 | $44.07 | +11.64% |
Apr 22, 2025 | $37.60 | $35.18 | -6.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Baker Hughes Company (BKR) report earnings?
Baker Hughes Company (BKR) is schdueled to report earning on Jul 22, 2026, Before Open (Confirmed).
What is Baker Hughes Company (BKR) earnings time?
Baker Hughes Company (BKR) earnings time is at Jul 22, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BKR EPS forecast?
BKR EPS forecast for the fiscal quarter 2026 (Q2) is 0.49.
