Q1 25 EPS
$0.51
BEAT +7.59%
Est. $0.47
Q1 25 Revenue
$6.43B
MISS 1.15%
Est. $6.50B
vs S&P Since Q1 25
+25.3%
BEATING MARKET
BKR +66.3% vs S&P +41.0%
Market Reaction
Did BKR Beat Earnings? Q1 2025 Results
Baker Hughes posted a characteristically mixed first quarter for 2025, beating on the bottom line while falling just short on revenue, as the oilfield services and industrial equipment giant navigated a choppy macro backdrop marked by trade policy un… Read more Baker Hughes posted a characteristically mixed first quarter for 2025, beating on the bottom line while falling just short on revenue, as the oilfield services and industrial equipment giant navigated a choppy macro backdrop marked by trade policy uncertainty and softening upstream spending. Adjusted diluted EPS came in at $0.51, ahead of the $0.47 consensus by 7.59%, while revenue of $6.43 billion trailed the $6.50 billion estimate by 1.15% and was essentially flat year-over-year, up just 0.1%. The profit strength reflected structural margin gains from the company's ongoing transformation, with adjusted EBITDA climbing 10% year-over-year to $1.04 billion despite headwinds in the Oilfield Services and Equipment segment, where revenue fell 8%. The real growth story was Industrial and Energy Technology, which posted an 11% revenue gain and a 30% EBITDA increase, fueled by a 20% jump in Gas Technology Equipment and orders for data center power solutions exceeding 350 MW. With a record remaining performance obligation of $30.40 billion and a deepening LNG pipeline, management expressed confidence in sustained growth even as broader industry peers flagged tariff pressures as a growing near-term concern.
Key Takeaways
- • Structural margin improvement from ongoing transformation and cost-out initiatives across both segments
- • IET revenue growth driven by Gas Technology Equipment (+20% YoY) and Climate Technology Solutions (+114% YoY)
- • Productivity gains, positive pricing, and increased IET volume offset OFSE volume decline and cost inflation
- • OFSE EBITDA margin improved 0.8 percentage points year-over-year despite 8% revenue decline
BKR YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
BKR Revenue by Segment
With YoY comparisons, source: SEC Filings
BKR Revenue by Geography
With YoY comparisons, source: SEC Filings
“Baker Hughes started the year strong, building on the positive momentum from 2024 and setting multiple first-quarter records. Our continued transformation initiatives and strong execution continue to drive structural margin improvement across both segments. The operational transformation and streamlining efforts have created a solid foundation to optimize margins and enhance returns, even in a challenging environment.”
— Lorenzo Simonelli, Q1 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
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $0.67 | $0.78 | +16.73% | $7.39B | +4.30% |
| FY Full Year | — | $2.60 | — | $27.73B | — |
| Q1 26 BEAT | $0.49 | $0.58 | +17.50% | $6.59B | +4.09% |
| Q3 25 BEAT | $0.62 | $0.68 | +9.78% | $7.01B | +2.63% |
| Q2 25 BEAT | $0.55 | $0.63 | +13.68% | $6.91B | +4.21% |
| Q1 25 BEAT | $0.47 | $0.51 | +7.59% | $6.43B | -1.15% |
| Q4 24 BEAT FY | $0.63 | $0.70 | +11.86% | $7.36B | +4.15% |
| FY Full Year | — | $2.35 | — | $27.83B | — |
| Q3 24 BEAT | $0.61 | $0.67 | +9.84% | $6.91B | -4.27% |
| Q2 24 BEAT | $0.49 | $0.57 | +16.33% | $7.14B | +4.91% |
| Q1 24 BEAT | $0.40 | $0.43 | +7.50% | $6.42B | +0.78% |