Baker Hughes Exceeds Q1 Earnings Guidance Amid Middle East Conflict Uncertainty
Baker Hughes exceeded Q1 earnings guidance with adjusted EBITDA of $1.16 billion and adjusted EPS of $0.58, driven by record IET bookings and margin expansion. However, the ongoing Middle East conflict has introduced macro uncertainty, impacting global oil and LNG capacity, leading to a downward revision in near-term upstream spending. The company expects $3 billion in proceeds from portfolio actions in 2026.
Tickers: $BKR
Topics: Earnings Financial Results Mergers and Acquisitions Middle East Conflict Oil Industry