ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 23.Apr.2026, Words: 249) — Baker Hughes Company announced revenue for the first quarter 2026 (1Q:26) of $6,587mn, down $799mn, or 11% sequentially, and up $160mn, or 2% year-over-year.
The increase in revenue compared to 1Q:25 was driven by an increase in Industrial & Energy Technology (IET), partially offset by a decrease in Oilfield Services & Equipment (OFSE).
RELATED: BAKER HUGHES 1Q:26 OILFIELD SERVICES & EQUIPMENT (OFSE) HIGHLIGHTS
Baker Hughes’ total book-to-bill ratio in the 1Q:26 was 1.2; the IET book-to-bill ratio was 1.5.
“Our exceptional first-quarter performance highlights the strength of our portfolio and the momentum we are building as we progress through Horizon 2. Despite significant disruptions in the Middle East, our teams executed at a high level and delivered results that exceeded our guidance range. Although we recognize this achievement, we continue to prioritize the safety and wellbeing of our employees and their families in the region,” Baker Hughes chairman and CEO Lorenzo Simonelli said on 23 Apr. 2026 in the company’s 1Q26 financial press release.
“Looking ahead, our outlook for the business fundamentals remains unchanged, excluding the ongoing impacts in the Middle East. While the conflict presents near-term challenges, it is further reinforcing energy security as a priority, which is expected to support structural growth in upstream and global energy infrastructure spending. Ultimately, we remain confident in our strategy and our ability to deliver long-term value for shareholders,” concluded Simonelli.
____________________
By Chad Archey reporting from Atlanta. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
