Baker Hughes Co Annual Report, Year Ended Dec 31, 2025

Baker Hughes Company (BKR) reported revenues of $27.7 billion for the fiscal year ending December 31, 2025, a slight decrease from the previous year, primarily driven by a decline in the Oilfield Services & Equipment (OFSE) segment, which was partially offset by growth in the Industrial & Energy Technology (IET) segment. The company's net income saw a decrease of 13% to $2.6 billion, impacted by factors including transaction costs and changes in the valuation of equity securities. Despite softer market conditions in OFSE, BKR anticipates modest improvements later in the year, while the IET segment is expected to maintain strength, particularly in LNG, gas infrastructure, and data center applications. Strategic initiatives in 2025 included the acquisition of Continental Disc Corporation and progress towards the acquisition of Chart Industries, expected to close in Q2 2026. The company returned $1.3 billion to shareholders through dividends and share repurchases, demonstrating a commitment to capital return. BKR continues to invest in R&D, with a focus on new energy solutions like hydrogen and CCUS, positioning itself for the energy transition while leveraging its strong base in traditional oil and gas markets.