Baker Hughes beats estimates for the eleventh straight quarter
As seen on the 24/7 Wall St. homepage on October 27, 2026.
AI power demand is now a Baker Hughes earnings driver: management lifted its 2026-2028 IET order outlook above $50 billion. Both EPS and revenue beat expectations, the eleventh straight quarter of doing so.
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Baker Hughes posted adjusted EPS of $0.70, beating expectations for the eleventh consecutive quarter on both the top and bottom lines. Few large-cap industrials match that consistency.
The Industrial and Energy Technology segment booked $5.9 billion in orders, its second-largest order quarter on record. That backlog gives unusually clear forward revenue visibility.
Management raised its Horizon 2 IET order outlook to over $50 billion for 2026 through 2028, citing demand from data centers, LNG projects, and gas infrastructure. CEO Lorenzo Simonelli pointed to a 1.1 gigawatt integrated power generation order for a U.S. technology company's data centers as proof behind the upgrade.
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The all-cash acquisition of Chart Industries, completed July 16, contributed $888 million in segment revenue and drove headline revenue growth. Long-term debt tripled to $17.5 billion, so integration and deleveraging are the key variables investors track from here.
Free cash flow came in at $769 million, up 21.3% year over year, leaving room to absorb the Chart debt load while supporting the quarterly dividend. Tariff uncertainty and OPEC production policy remain the macro risks.
Mentioned: BKR