Form 10-Q · Quarterly report
Baker Hughes 10-Q, filed Jul 27, 2026
- Filed
- CIK
- 0001701605
- Accession no.
- 0001701605-26-000023
Summary
Baker Hughes reported second-quarter 2026 revenue of $6.7 billion, down 2% from a year earlier, with net income flat at $0.7 billion, and said it completed its acquisition of Chart Industries on July 16, 2026 at $210 per share, an enterprise value of about $13.6 billion. The company said it expects upstream spending to decline in the Middle East this year while North American and other international spending stays broadly unchanged from 2025, absent further pressure on oil prices.
Key points
- Second-quarter 2026 revenue fell 2% year over year to $6.7 billion, with IET revenue flat and OFSE revenue down 5%, partly reflecting the Surface Pressure Control disposition.
- Baker Hughes returned $228 million to shareholders through dividends in the quarter.
- Worldwide rig count averaged 1,760 in the quarter, up 10% year over year, with international rigs up 18% and North America up 1%.
- Brent averaged $102.63 per barrel and WTI $95.65 per barrel in the quarter, versus $68.07 and $64.57 a year earlier.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT'S DISCUSSION EXECUTIVE SUMMARY Market Conditions During the second quarter of 2026, continued disruptions in the Middle East contributed to tighter oil and liquefied natural gas (“LNG”) market balances and higher inflationary costs. We believe that macroeconomic uncertainty, resulting from disruptions across key energy corridors, including the Strait of Hormuz, has now become a structural feature of oil and gas markets, increasing the focus on energy security and the reliability of affordable supply. As global energy demand continues to rise, these dynamics underscore the importance of sustained investment across the upstream sector. …
An excerpt of the text as filed with the SEC, cut for length.
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