Form 10-Q · Quarterly report
Baker Hughes 10-Q, filed Oct 28, 2026
- Filed
- CIK
- 0001701605
- Accession no.
- 0001701605-26-000035
Summary
Baker Hughes reported third-quarter 2026 revenue of $8.0 billion, up 14% year over year, and net income of $0.4 billion, down $0.2 billion, and said it completed its $14.8 billion acquisition of Chart Industries on July 16, 2026. The company said Middle East disruptions and Strait of Hormuz constraints tightened oil and LNG markets and raised costs, and it expects Middle East upstream spending to decline this year, partially offset by increases elsewhere.
Key points
- Baker Hughes completed its acquisition of Chart Industries on July 16, 2026, for $210 per share and total consideration of $14.8 billion.
- Third-quarter 2026 revenue was $8.0 billion, up $1.0 billion or 14% year over year, including $0.9 billion from Chart; net income was $0.4 billion, down $0.2 billion.
- The company returned $228 million to shareholders through dividends in the third quarter.
- Baker Hughes expects modest improvement in global upstream spending through the remainder of 2026, with conditions improving into 2027 absent a material oil price decline or increased geopolitical tensions.
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 third 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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