Baker Hughes earnings: guidance and what to watch
Baker Hughes next results are expected on October 27, 2026. Watch whether Chart, OFSE and IET turn orders into profitable delivery, cash and debt reduction.
What has Baker Hughes guided for the year?
For 2026, management guides to revenue of $28,500–$30,300 million. It guides to adjusted EBITDA of $4,875–$5,475 million. Chart guidance is $1,850–$2,250 million of revenue and $300–$400 million of EBITDA.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| BKR REVENUE | Year to Dec 2026 | 28,500 | 30,300 | Sep 9, 2026 |
| BKR ADJUSTED EBITDA | Year to Dec 2026 | 4,875 | 5,475 | Sep 9, 2026 |
| Chart REVENUE | Year to Dec 2026 | 1,850 | 2,250 | Sep 9, 2026 |
| Chart EBITDA | Year to Dec 2026 | 300 | 400 | Sep 9, 2026 |
What this means. Free cash flow conversion is the percentage of adjusted earnings before interest, taxes, depreciation, and amortization that becomes cash after acquisition-related interest and costs.
How have Baker Hughes revenue and profit trended?
The June 2026 quarter was weaker on sales and earnings but stronger on orders and cash.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6,742 | 6,587 | 7,386 | 7,010 | 6,910 | 6,427 | 7,364 | 6,908 |
| Gross margin | 23.4% | 22.9% | 23.7% | 24.3% | 23.4% | 23.0% | 23.0% | 24.6% |
| Operating income | 854 | 771 | 755 | 948 | 887 | 752 | 665 | 930 |
| Net income | 681 | 930 | 876 | 609 | 701 | 402 | 1,179 | 766 |
| EPS, diluted | 0.68 | 0.93 | 0.88 | 0.61 | 0.71 | 0.40 | 1.18 | 0.77 |
What this means. March 2026 net income is unusually high because it includes a one-time gain from selling a business, so it does not show only profit from normal operations.
What should I watch in Baker Hughes results?
Baker Hughes reports Q3 results on October 27, 2026, with the call on October 28. This is the first quarter to include Chart after it closed. Investors should look for Chart’s contribution and integration progress, OFSE performance against the Middle East disruption and IET evidence that LNG and power orders are moving into delivery without margin slippage.