Baker Hughes beats Q2 expectations on strong cash flow, shares rise
Baker Hughes (NASDAQ: BKR) reported better-than-expected second-quarter results on July 27, 2026, with adjusted earnings per share of $0.64 surpassing the consensus estimate of $0.49. Revenue reached $6.74 billion, exceeding forecasts of $6.52 billion despite a 2% year-over-year decline. The company secured $10.5 billion in new orders, led by its Industrial & Energy Technology division with $7.1 billion, and ended the quarter with record remaining performance obligations of $40.1 billion. Adjusted EBITDA hit $1.23 billion, while operating cash flow was $1.34 billion and free cash flow totaled $1.11 billion. CEO Lorenzo Simonelli highlighted strong portfolio breadth, momentum in data center and gas infrastructure markets, and disciplined execution amid Middle East uncertainties. Shares rose about 2% in premarket trading following the announcement.
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