Baker Hughes stock: Record IET orders lift outlook after Q3

Published on 11/02/2026 at 11:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Baker Hughes stock is in focus after strong third-quarter orders and a higher industrial technology outlook. Chart expands the portfolio.

Orders and portfolio reshape outlook

Third-quarter orders rose 31 percent year over year to 10.764 billion US dollars.
Industrial and Energy Technology orders climbed 42 percent to 5.886 billion US dollars.
The completed Chart acquisition added cryogenic, cooling and industrial capabilities to the portfolio.
Management raised the Horizon 2 IET order outlook to more than 50 billion US dollars.

Baker Hughes Co., US05722G1004, Illustration mit AI erstellt.

Baker Hughes reported strong commercial momentum in the third quarter of 2026, led by its Industrial & Energy Technology division and the first contribution from Chart Industries. The company announced the results on Tuesday, October 27, in its third-quarter results release.

Orders strengthen the industrial mix

Total orders reached 10.764 billion US dollars in the three months ended September 30, up 31 percent from a year earlier and 2 percent from the second quarter. Revenue increased 14 percent year over year to 8.025 billion US dollars, while adjusted EBITDA rose 14 percent to 1.415 billion US dollars.

The headline growth came with a weaker GAAP profit comparison. Net income attributable to Baker Hughes fell 33 percent year over year to 411 million US dollars, and diluted earnings per share declined to 0.41 US dollars from 0.61 US dollars. Adjusted net income increased 2 percent to 695 million US dollars, reflecting the effect of transaction-related costs, Chart intangible amortization and other adjustments.

Industrial & Energy Technology booked 5.886 billion US dollars of orders, 42 percent more than in the prior-year quarter. Its book-to-bill ratio was 1.7, while segment revenue rose 3 percent to 3.477 billion US dollars and segment EBITDA increased 8 percent to 685 million US dollars. The division benefited from demand for gas technology, power generation, cooling systems and related services.

Backlog supports longer-term visibility

Remaining performance obligations rose to 46.4 billion US dollars, including a record 39.4 billion US dollars for IET. Baker Hughes said demand across data centers, space, liquefied natural gas and gas infrastructure supported an increase in its Horizon 2 IET order outlook to more than 50 billion US dollars for 2026 through 2028.

The company also announced a 1.1-gigawatt integrated power generation order for a major US technology company. The award includes gas turbine packages, gearboxes and generators for advanced computing infrastructure. Baker Hughes did not identify the customer or disclose financial terms.

The completed all-cash acquisition of Chart Industries broadened the portfolio with cryogenic, cooling and industrial technologies. Chart contributed 888 million US dollars of revenue, 831 million US dollars of orders and 156 million US dollars of segment EBITDA from the July 16 closing through September 30. The figures include only the period under Baker Hughes ownership.

Course and investor focus

Baker Hughes stock traded at 48.99 euros on Lang & Schwarz at 11:51 CET on Monday, November 2, 2026. Investors are weighing the stronger order pipeline and backlog against integration costs, the lower GAAP profit and the need to convert longer-cycle projects into revenue and cash. The real-time quote of Baker Hughes stock provides the latest trading view.