Q2 25 EPS
$0.63
BEAT +14.55%
Est. $0.55
Q2 25 Revenue
$6.91B
vs S&P Since Q2 25
+58.8%
BEATING MARKET
BKR +72.4% vs S&P +13.6%
Market Reaction
Did BKR Beat Earnings? Q2 2025 Results
Baker Hughes posted a decidedly strong second quarter of 2025, with earnings per share of $0.63 beating the $0.55 consensus estimate by 14.55%, even as revenue dipped 3.2% year-over-year to $6.91 billion amid softer upstream activity in its Oilfield … Read more Baker Hughes posted a decidedly strong second quarter of 2025, with earnings per share of $0.63 beating the $0.55 consensus estimate by 14.55%, even as revenue dipped 3.2% year-over-year to $6.91 billion amid softer upstream activity in its Oilfield Services & Equipment segment. The real story was margin expansion: total adjusted EBITDA margins widened 170 basis points to 17.5%, reflecting structural cost improvements and the kind of operating leverage the company has been building toward, while GAAP net income attributable to Baker Hughes rose 21% year-over-year to $701 million. The Industrial & Energy Technology segment was the standout engine, growing revenue 5% and lifting segment EBITDA 18% to $585 million, fueled by a record $31.30 billion backlog and more than $550 million in data center-related orders during the quarter alone, momentum that informed management's decision to raise full-year IET revenue and EBITDA guidance. A planned $13.6 billion acquisition of Chart Industries further signals Baker Hughes' strategic pivot toward higher-durability, higher-margin industrial and energy technology earnings streams.
Key Takeaways
- • Structural cost improvements and business system deployment driving 170 bps year-over-year adjusted EBITDA margin expansion to 17.5%
- • IET segment EBITDA up 18% year-over-year driven by positive pricing, favorable FX, and productivity
- • Record IET RPO of $31.3 billion providing backlog visibility
- • Data center-related orders of more than $550 million in the quarter
- • Year-to-date New Energy bookings of $1.25 billion
- • Productivity and structural cost-out initiatives offsetting lower OFSE volumes and cost inflation
BKR YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
BKR Revenue by Segment
With YoY comparisons, source: SEC Filings
BKR Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered strong second-quarter results, with total adjusted EBITDA margins increasing 170 basis points year-over-year to 17.5% despite a modest decline in revenue. This performance reflects the benefits of structural cost improvements and continued deployment of our business system, which is driving higher productivity, stronger operating leverage and more durable earnings across the company.”
— Lorenzo Simonelli, Q2 2025 Earnings Press Release
BKR Earnings Trends
BKR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BKR EPS Trend
Earnings per share: estimate vs actual
BKR Revenue Trend
Quarterly revenue: estimate vs actual
BKR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 FY | — | $0.78 | — | $7.39B | — |
| FY Full Year | — | $2.60 | — | $27.73B | — |
| Q1 26 | — | — | — | — | — |
| Q3 25 BEAT | $0.62 | $0.68 | +9.68% | $7.01B | — |
| Q2 25 BEAT | $0.55 | $0.63 | +14.55% | $6.91B | — |
| Q1 25 BEAT | $0.47 | $0.51 | +8.51% | $6.43B | — |