Baker Hughes Co. (NASDAQ:BKR) shares rose Friday, gaining about 4% after the oilfield services provider reported first-quarter results that topped expectations, driven by solid execution and portfolio moves.
Quarterly Highlights
Baker Hughes reported first-quarter adjusted earnings per share of 58 cents, beating the analyst consensus estimate of 49 cents. Quarterly sales of $6.587 billion outpaced the Street view of $6.335 billion.
Revenues had a slight year-over-year increase of 2%, while net income surged 131% to $930 million.
The company emphasized its ongoing portfolio management strategy, including the divestiture of Waygate Technologies, which is expected to generate approximately $3 billion in gross proceeds this year.
“Despite significant disruptions in the Middle East, our teams executed at a high level and delivered results that exceeded our guidance range,” said CEO Lorenzo Simonelli.
Adjusted EBITDA in the quarter under review totaled $1.158 billion, higher than $1.037 billion a year ago.
Cash flow from operating activities was $500 million for the first quarter of 2026.
Earnings Call Highlights
Simonelli said the company’s strong first-quarter performance underscores the resilience of its business model and its ability to navigate challenging conditions, adding that it remains focused on delivering shareholder value through strategic growth and disciplined execution.
Baker Hughes said Middle East disruptions are pressuring Oilfield Services & Equipment activity and could push full-year results slightly below guidance midpoint, though Industrial & Energy Technology (IET) momentum remains strong.
Management expects second-quarter revenue of $6.5 billion and adjusted EBITDA of $1.13 billion, assuming the conflict lasts through June without further escalation.
The company said IET orders could top its Horizon 2 target of $40 billion, supported by power, LNG and energy security demand, while Chart integration planning has identified more than 250 synergy opportunities.
Baker Hughes Price Action
BKR Stock Price Activity: Baker Hughes shares were up 4.02% at $67.08 at the time of publication on Friday, according to Benzinga Pro data.
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