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BKRBullishEarningsShort Term

High materiality8/10

Baker Hughes Announces Second-Quarter 2026 Results

StockNews.AIJul 26, 5:00 PM EDT3 sources

Trading thesisImportance 8/10

Bullish on BKR near term as IET demand, cash flow, and Chart integration support earnings visibility; monitor further upside into Horizon 2 outlook.

AI summary

What happened and why it matters

Baker Hughes posted a solid Q2 2026, with revenue of $6.742B and GAAP net income $681M. IET orders surged to a record $7.088B, backlog rose 19% YoY to $40.1B, and Horizon 2 IET orders outlook rose above $45B. The Chart Industries acquisition closed and Waygate Technologies was sold for about $1.45B, supporting higher growth and cash flow, while the company reaffirmed guidance and maintained a favorable full-year trajectory.

IET orders rose to a record $7.1B; YoY increase 101%.
RPO at $40.1B, IET RPO $37.1B; strong visibility.
Chart acquisition closed; Waygate sale completed for $1.45B cash.
Free cash flow $1.109B and operating cash flow $1.345B.

Sentiment rationale

Strong top-line and cash-flow indicators, record IET orders, higher Horizon 2 outlook, and Chart integration imply improved growth trajectory and potential multiple expansion, even as Middle East uncertainty persists.

Key facts

01
Q2 2026 revenue was $6.742B; GAAP net income was $681M.
02
IET orders hit a record $7.1B; backlog rose 19% YoY.
03
RPO reached $40.1B; Horizon 2 IET outlook above $45B.
04
Chart acquisition closed; Waygate sale to Hexagon completed for $1.45B.
05
Guidance reaffirmed; IET horizon outlook raised; FCF remains robust.

Earnings

Category Type: Earnings. The release centers on Baker Hughes' quarterly performance, segment dynamics, and strategic portfolio moves (Chart acquisition, Waygate sale), with guidance updates and cash-flow metrics that drive valuation and investment thesis.