Baker Hughes officially releases its global operating financial report
Baker Hughes Company released its full 2026 first-quarter financial and operational
results globally. Driven by surging global energy infrastructure demand and advanced
compression equipment orders, the group's Industrial & Energy Technology (IET) segment
achieved a historic quarterly order volume of $4.9 billion, marking three consecutive
quarters exceeding $4 billion in new contracts.
Despite sequential revenue adjustments amid regional geopolitical supply chain
challenges, the group achieved remarkable profit growth: quarterly net profit reached
$930 million, representing a 131% year-on-year increase and 6% quarter-on-quarter
growth. Core growth drivers are concentrated in high-efficiency centrifugal compressors,
natural gas pipeline compression units, LNG process compression systems and power
compression solutions.
Baker Hughes' advanced centrifugal compressor product matrix covers midstream natural
gas transmission, downstream LNG liquefaction, petrochemical process compression and
carbon capture compression scenarios. The upgraded low-carbon compressor platforms
feature superior energy efficiency, intelligent remote operation and maintenance, low
carbon emission and strong load adaptability, widely favored by global energy and
petrochemical project developers.
Lorenzo Simonelli, Chief Executive Officer of Baker Hughes, commented: "Strong order
growth of industrial compression business reflects global market recognition of our low
carbon turbomachinery solutions. Global energy security construction, natural gas
infrastructure upgrading and carbon neutrality transition keep driving robust demand for
high-end compression equipment. We will keep prioritizing R&D on efficient gas
compression, carbon capture compression technology, and expand global delivery
capacity of integrated compression system solutions."
Looking ahead, the company will further optimize global compressor supply chain layout,
accelerate digital intelligent compression equipment iteration, and seize emerging growth
opportunities in global energy transition and low-carbon industrial upgrading.
