Baker Hughes Co

Company facts

Industry

Oil & Gas Field Machinery & Equipment

Headquarters

Houston, Texas

Most recent report

10-Q, filed Jul 27, 2026

Incorporated

Delaware

Filings on record

967 filings

On EDGAR

CIK 1701605

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 13 sections worth reading, with 1 positive, 11 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core financial statements with detailed Q2 results and notes on the Chart acquisition, debt financing, and dispositions.
  Notable

  • $492M goodwill reclassified as held for sale for Waygate disposition.
  • $6.5B USD and €3B notes issued March 2026 to fund Chart acquisition.
  • Remaining performance obligations grew to $40.1B at June 2026 from $36.1B at March 2026.
  • Restructuring charges of $50M in H1 2026 vs nil in H1 2025.
  Negative

  • No share repurchases in H1 2026 vs $384M in H1 2025.

• Management's Discussion (Item 2)

  Chart acquisition closed, revenue down, segment detail, debt issuance, liquidity buildup.
  Positive

  • IET segment EBITDA up 16% to $678M in Q2 2026, driven by price, productivity, cost-out, and FX.
  Notable

  • IET revenue flat in Q2 2026; GTS up 11%, IP up 13%, CTS up 31%, but GTE down 6% and IS down 33% (PSI sale).
  • Net income flat at $0.7B in Q2 2026; helped by lower tax, higher segment EBITDA, offset by higher D&A and interest.
  • Chart acquisition closed July 16, 2026 for ~$13.6B enterprise value, funded by debt and cash.
  • Cash and equivalents rose to $15.7B at June 30, 2026 from $3.7B at Dec 31, 2025, mainly from debt issuance.
  • After quarter end, entered two $1.0B term loans on July 15, 2026; 2025 delayed draw term loan was terminated.
  • Proceeds from PSI disposition ($1.2B) and SPC JV ($0.2B) received in Q1 2026.
  • Mexico CDS notional outstanding dropped to $86M at June 30, 2026 from $159M at March 31, 2026.
  Negative

  • Total revenue down 2% to $6.7B in Q2 2026; OFSE down 5% led by SPC disposition and Middle East disruptions.
  • OFSE international revenue down 6% in Q2 2026, dragged by Middle East/Asia and Europe/CIS/Sub-Saharan Africa.
  • OFSE segment EBITDA down 11% to $605M in Q2 2026, hit by inflation, mix, lower volume, and SPC sale.

What changed: Jun 2026 vs. Mar 2026

About 16% of BKR's Jun 2026 10-Q is new information. 53 paragraphs were added, 131 changed, and 33 removed. Below are the most important lines SECSift identified.

• Item 2 67
• Item 1 48
• Item 6 21
• Item 4 2
• Item 5 1