Baker Hughes Q2 2026: Record IET Orders, Chart Acquisition Closed, Waygate Sale Pending
BKR sits 44% above its 52-week low of $41.96.
Summary
Baker Hughes posted Q2 2026 revenue of $6.74B and diluted EPS of $0.68, closed the $13.6B Chart acquisition, and classified Waygate as held for sale in a $1.45B deal. Cash jumped to $15.7B on acquisition financing.
Key Events · Earnings and Guidance · BKR
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Q2 Earnings Beat
Revenue of $6.74B, net income of $682M, and diluted EPS of $0.68 exceeded consensus. Driving the performance, IET orders hit a record, fueled by Gas Technology Equipment orders of $4.9B.
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Chart Acquisition Closed
On July 16, 2026, the $13.6B acquisition of Chart Industries was completed, funded by $6.5B in USD notes, €3.0B in EUR notes, and $2.0B in term loans. The deal adds cryogenic and gas handling technologies.
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Waygate Sale Announced
An agreement was entered to sell Waygate Technologies to Hexagon AB for approximately $1.45B in cash, with closing expected in H2 2026. The business is now classified as held for sale.
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Balance Sheet Transformation
Reflecting acquisition financing, cash and equivalents rose to $15.7B from $3.7B at year-end, while long-term debt increased to $15.5B from $5.4B. No share repurchases were made in Q2.
Analysis · BKR · Energy & Transportation
A strong second quarter saw Baker Hughes deliver record IET orders and an earnings beat, while closing the transformative $13.6B Chart acquisition and advancing the $1.45B Waygate sale. The balance sheet now reflects the acquisition financing, with cash surging to $15.7B and long-term debt to $15.5B. Against a backdrop of elevated oil prices and geopolitical supply constraints, the quarter highlights the company's execution on portfolio reshaping—divesting non-core assets, integrating Chart, and returning capital via dividends.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 35.6% of the 1216 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BKR was trading at $60.59 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $60.1B. The 52-week trading range was $41.96 to $70.41. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.