Baker Hughes Raises Outlook Following Record Equipment Bookings
Baker Hughes reported record second-quarter orders of $10.5 billion, driven primarily by strong demand in LNG export facilities, gas-fired power generation, and data center infrastructure. The Industrial & Energy Technology (IET) segment saw a significant increase with bookings reaching $7.1 billion—more than double the previous year's figure. Remaining performance obligations hit an all-time high of $40.1 billion, offering strong visibility into future revenue streams. The company also reported total revenue of $6.74 billion and adjusted EBITDA of $1.23 billion, both exceeding guidance ranges. CEO Lorenzo Simonelli highlighted the continued strength in data centers, gas infrastructure, and upstream markets despite challenges in certain regions like the Middle East. Baker Hughes now expects to reach the midpoint of its full-year guidance and has raised its Horizon 2 IET orders target beyond $45 billion. The strong performance was supported by major contracts with companies such as Venture Global, Cheniere Energy, Golar LNG, Nigeria LNG, Dynamis Power Solutions, and Kodiak Gas Services. The company also completed the acquisition of Chart Industries to expand into thermal management solutions while planning a $1.45 billion sale of its Waygate Technologies business.
Tickers: $BKR $GLNG $GTLS $LNG
Topics: data_centers equipment_orders LNG oil_and_gas