Company Overview

Baker Hughes Company (Nasdaq: BKR) is a global energy technology company providing solutions for energy and industrial customers worldwide. Built on a century of experience and operating in over 120 countries, its innovative technologies and services aim to make energy safer, cleaner, and more efficient.

Following a 2022 reorganization, Baker Hughes operates in two primary segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The OFSE segment is a significant player among the top oilfield-services providers, serving hydrocarbon developers and producers globally.

Business Segments

Oilfield Services & Equipment (OFSE)

This segment designs, manufactures products, and provides related services for onshore and offshore oilfield operations, covering exploration, appraisal, development, production, rejuvenation, and decommissioning. It offers drilling services, drill bits, drilling and completions fluids, completions, intervention, measurements, pressure pumping, and wireline services. Additionally, it supplies artificial lift systems, oilfield and industrial chemicals, subsea projects and services, flexible pipe systems, surface pressure control systems, and integrated well services and solutions. Approximately three-fourths of this segment's offerings are purchased by markets outside of North America.

Industrial & Energy Technology (IET)

The IET segment provides gas technology equipment, including drivers, driven equipment, and turnkey solutions for mechanical and electric-drive, compression, and power-generation applications. It also serves the energy sectors like oil and gas, LNG operations, petrochemicals, and carbon solutions. This segment offers rack-based vibrating monitoring equipment and sensors, integrated asset performance management products, inspection services, pumps, valves, and gears, precision sensors and instrumentation, and condition monitoring solutions.

Recent Financial Performance

Full-Year 2024 Results

Full-year 2024 performance demonstrated significant growth, with revenue reaching $27.8 billion (up 9% year-over-year). Attributable net income was $2,979 million, and adjusted EBITDA reached $4,591 million (up 22% year-over-year). The company concluded the year with strong fourth-quarter results, setting new quarterly and annual records for revenue, free cash flow, and adjusted measures of EPS, EBITDA, and EBITDA margin.

Key 2024 Financial Metrics:

- Total Revenue: $27.83 billion (a 9.11% increase from $25.51 billion in 2023)

- Earnings: $2.98 billion (a 53.32% increase)

- Shareholder Returns: $1,320 million returned to shareholders, including $484 million in share repurchases.

Fourth Quarter 2024 Highlights

Baker Hughes reported fourth-quarter 2024 earnings that surpassed analyst expectations, with an Earnings Per Share (EPS) of $0.70, against a forecast of $0.63. The company also exceeded revenue projections, reporting $7.4 billion against an expected $7.08 billion.

Additional Q4 2024 Metrics:

- Orders: $7.5 billion

- Revenue: $7.4 billion (up 8% year-over-year)

- Adjusted EBITDA: $1,310 million (up 20% year-over-year)

- Free Cash Flow: $2.3 billion, with a 49% conversion rate.

Recent Quarter Performance (Q3 2024)

In Q3 2024, Baker Hughes reported revenue of $6.9 billion, an increase of 4% year-over-year. Adjusted EBITDA grew by 23% year-over-year to $1,208 million. The company generated $754 million in free cash flow, up 27% year-over-year.

Market Position and Strategy

Baker Hughes' strategy focuses on driving profitable growth and continuous margin improvement. The company is transforming and anticipates 2025 to be another strong year for EBITDA growth, primarily led by its IET segment.

The company emphasizes securing high-value contracts and achieving operational excellence. It has delivered consistent quarters of record EBITDA, highlighted by exceptional operational performance across both segments. EBITDA margins have continued to improve, with total company EBITDA margins reaching 17.5% in Q4 2024, marking the highest margin quarter since the company was formed.

Recent Corporate Actions and Acquisitions

Baker Hughes has actively pursued strategic expansion through acquisitions. Notably, the company is reportedly nearing a $13.6 billion cash deal to acquire Chart Industries, which would offer a 22% premium and significantly boost its energy tech portfolio. The company has also completed other strategic acquisitions, such as the all-cash, $540 million acquisition of Continenta [Note: Incomplete acquisition detail].

Dividend and Shareholder Returns

Confidence in the durability and growth of earnings and free cash flow supports the company's commitment to increasing shareholder returns. This is exemplified by the announcement to increase its quarterly dividend by 10% to $0.23 per share.

Current Dividend Metrics (as of September 2025):

- Last Dividend Per Share: $0.23 USD

- Dividend Yield (TTM)%: 1.90%

- 2024 Dividend Yield: 2.05%

- Payout Ratio (2024): 28.23%

Market Capitalization and Stock Performance

As of today, Baker Hughes' market capitalization stands at $44.36 billion. Recent trading data indicates the current price of BKR is $47.48 USD, reflecting a 0.13% increase in the past 24 hours.

Following the Q4 2024 earnings announcement, Baker Hughes' stock rose by 6.5%, closing at $44.60. This stock movement signifies investor confidence in the company's financial performance and its ability to capitalize on growth opportunities within the energy sector.

Corporate Information

The company was formerly known as Baker Hughes, a GE company, and officially changed its name to Baker Hughes Company in October 2019. Baker Hughes Company was incorporated in 2016 and is headquartered in Houston, Texas.

- Employees: Approximately 57,000 (as of Sep 22, 2025)

- Outstanding Shares: 990,111,854 shares of Class A Common Stock (as of January 22, 2025)

Baker Hughes continues to position itself as a leading energy technology company, balancing traditional oilfield services with growth in industrial and energy transition technologies. It maintains strong operational performance and consistently returns value to shareholders through dividends and share repurchases.