On Oct. 23, 2025, Baker Hughes Company (NASDAQ: BKR) announced its third‑quarter 2025 financial results. The company posted revenue of $7.01 billion, up 1 % sequentially and 1 % year‑over‑year, and adjusted EBITDA of $1.238 billion, a 2 % sequential increase and 2 % year‑over‑year growth. Adjusted EBITDA margin expanded to 17.7 % from 15.9 % in the prior quarter.
The results were driven by a 44 % year‑over‑year rise in Industrial & Energy Technology (IET) orders to $4.139 billion, supported by strong demand for gas‑technology equipment and climate‑technology solutions. IET revenue grew 15 % year‑over‑year to $3.374 billion, while Oilfield Services & Equipment (OFSE) revenue fell 8 % year‑over‑year to $3.636 billion. Despite the OFSE decline, the company’s book‑to‑bill ratio remained healthy at 1.2.
Baker Hughes’ board declared a quarterly cash dividend of $0.23 per share, payable November 14, 2025. The company’s cash position stood at $3.3 billion, with net debt‑to‑EBITDA of 0.6×, underscoring its strong liquidity and capacity to return value to shareholders. The earnings beat reinforced the company’s trajectory toward its 2025 margin targets and positioned it well for the upcoming fourth‑quarter awards.
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