Baker Hughes Shares Gain After 2Q Earnings Beat

By Connor Hart

Shares of Baker Hughes rose after the company posted higher-than-expected profit and revenue during the latest quarter.

The stock climbed 2.3%, to $58.57, in premarket trading Monday. Through Friday's close, shares are up more than 21% year to date.

The energy-technology company on Sunday posted a second-quarter profit of $681 million, or 68 cents a share, compared with $701 million, or 71 cents a share, a year earlier.

Stripping out one-time items, earnings were 64 cents a share. Analysts polled by FactSet had expected adjusted earnings of 49 cents a share.

Revenue fell 2.4% to $6.74 billion, but came in ahead of Wall Street models for $6.51 billion.

The company's industrial and energy technology unit notched sales of $3.29 billion, roughly flat from last year. Sales across its oilfield services and equipment business declined 4.6% to $3.45 billion.

Overall orders in the quarter were $10.5 billion, up nearly 50% from a year ago.

Chief Executive Lorenzo Simonelli said the recent quarter's performance reflects continued momentum across data center, gas infrastructure and upstream markets.

"Looking ahead, favorable underlying fundamentals support our confidence in achieving the midpoint of our full-year guidance as we continue to manage through the Middle East uncertainty," he added.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 27, 2026 06:31 ET (10:31 GMT)