Baker Hughes Co - Class A

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.