First-quarter highlights
- Orders of $6.5 billion, including $3.2 billion of IET orders.
- RPO of $33.2 billion, including record IET RPO of $30.4 billion.
- Revenue of $6.4 billion, consistent year-over-year.
- Attributable net income of $402 million.
- GAAP diluted EPS of $0.40 and adjusted diluted EPS* of $0.51.
- Adjusted EBITDA* of $1,037 million, up 10% year-over-year.
- Cash flows from operating activities of $709 million and free cash flow* of $454 million.
- Returns to shareholders of $417 million, including $188 million of share repurchases.
Baker Hughes Company has announced results for the first quarter of 2025.
'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,' said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.
'In our IET segment, we booked $3.2 billion of orders, including our first data center awards, totaling more than 350 MW of power solutions for this rapidly evolving market. In addition to expanding opportunities for data centers, we have a strong pipeline of LNG, FPSO and gas infrastructure projects that support our order outlook for this year.'
'In OFSE, EBITDA remained resilient as our margins saw noticeable improvement compared to last year even while segment revenue fell. This is a testament to the team's hard work in changing the way the business operates.'
'Although our outlook is tempered by broader macro and trade policy uncertainty, we remain confident in our strategy and the resilience of our portfolio. We believe Baker Hughes is well positioned to navigate near-term challenges and deliver sustainable growth in shareholder value.'
'I want to thank our employees, whose hard work, dedication and focus have been instrumental to the continued success of Baker Hughes. As we continue to execute our strategy amidst an uncertain macro backdrop, we remain committed to our customers, shareholders and employees,' concluded Simonelli.
* Non-GAAP measure. See reconciliations in the section titled 'Reconciliation of GAAP to non-GAAP Financial Measures.'
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Source: Baker Hughes
