BAKU, Azerbaijan, October 28. U.S. energy technology company Baker Hughes reported revenue of $8.025 billion in the third quarter of 2026, up 14.5% from $7.010 billion in the same period last year, according to the company's financial results.
“The increase in revenue year-over-year was mainly driven by the contribution from the Chart acquisition,” said the company.
Baker Hughes noted that following the acquisition, the Chart segment delivered broad-based orders across its diverse customer base, while opening new opportunities across Baker Hughes’ technology portfolio and global commercial network.
Net income attributable to Baker Hughes declined by 32.5% year-on-year to $411 million from $609 million.
However, adjusted net income attributable to the company increased by 2.5% to $695 million, compared with $678 million in the third quarter of 2025.
Adjusted EBITDA rose by 14.3% to $1.415 billion from $1.238 billion a year earlier.
“The year-over-year increase in adjusted net income and adjusted EBITDA was primarily driven by the Chart acquisition, price, higher volume, and cost-out initiatives, partially offset by reduced productivity benefits, change in business mix, and inflation,” the company explained.
Cash flow from operating activities increased by 8.2% year-on-year to $1.005 billion, compared with $929 million in the corresponding period of 2025.
Baker Hughes' orders totaled $10.764 billion in the third quarter of 2026, up 31.2% from $8.207 billion a year earlier. The increase amounted to $2.557 billion, indicating stronger demand for the company's products and services.
The company's adjusted net income exceeded reported net income by $284 million in the third quarter, compared with a difference of $69 million in the same period last year.
