Baker Hughes Surpasses Guidance with Record Q2 Orders

Baker Hughes reported strong Q2 results despite lower YoY revenue, according to Egypt Oil & Gas. The energy technology company's revenue for the second quarter of 2026 was $6.74 billion, down 2% year-on-year from $6.91 billion. However, net income of $681 million declined 3% compared to the same period last year and 27% lower than the previous quarter.

The decline in revenue and net income was mainly due to the sale of its Precision Sensors & Instrumentation (PSI) and Surface Pressure Control (SPC) businesses. Meanwhile, adjusted net income rose 3% YoY to $640 million, while adjusted EBITDA increased 2% to $1.23 billion.

Baker Hughes Chairman and CEO Lorenzo Simonelli stated that the company 'delivered another strong quarter, reflecting the breadth of our portfolio and continued momentum across data center, gas infrastructure, and upstream markets.' He added that disciplined execution and navigating ongoing Middle East challenges contributed to Adjusted EBITDA exceeding the high end of their guidance range.