Baker Hughes (Nasdaq: BKR) concluded a transformative 2025, delivering exceptional financial results driven by record-breaking orders.
Industrial & Energy Technology (IET) Leading the Charge
The IET segment secured several critical awards for global energy infrastructure. Key achievements include supplying liquefaction equipment for the Rio Grande LNG facility and Commonwealth LNG’s export facility, utilizing high-efficiency aeroderivative gas turbines and compressor technology. Furthermore, Baker Hughes was selected to provide power generation equipment for Alaska LNG’s North Slope gas treatment plant.
Beyond LNG, the company demonstrated strength in power systems, receiving an award for over 40 BRUSH™ generators to deliver approximately 7 GW of power to the U.S. grid. In a significant move into new energy, Aalo Atomics selected Baker Hughes to supply a steam turbine generator for one of the first Small Modular Reactor (SMR) demonstration plants in North America. The digital portfolio also scaled significantly, with Cordant™ software awards from global partners like Yara and China National Petroleum Corporation.
Oilfield Services & Equipment (OFSE) Innovation
In the OFSE segment, the company secured nearly $1 billion in Production Solutions contracts in the Middle East. Notable awards came from the Kuwait Oil Company and Petroleum Development Oman, both of which will leverage the Leucipa™ automated field production solution to improve well reliability.
Technological advancements in well construction were highlighted by the uptake of Lucida™ and AutoTrak™ rotary steerable systems in Argentina’s Vaca Muerta formation, enabling deeper and more efficient drilling. Additionally, the company secured a multi-year agreement with Eni for subsea production systems at the Coral North LNG project offshore Mozambique, further expanding its long-cycle offshore footprint.
Strategic Outlook
CEO Lorenzo Simonelli noted that these achievements position Baker Hughes to evolve into a “stronger, more industrialized energy solutions company” as it enters its “Horizon Two” phase from 2026-2028. With a book-to-bill ratio of 1.1, the company enters 2026 with sustained momentum across its diverse portfolio