Baker Hughes: Q3 Earnings Snapshot

U.S. natural gas supply is abundant, with record production and storage levels, but infrastructure and grid rules pose challenges for AI data center power needs. The EIA forecasts production growth and lower prices. Companies like EQT, Kinder Morgan, Baker Hughes, and Bloom Energy reported earnings and projects related to gas-to-power.

Baker Hughes reported Q3 2026 earnings with adjusted EBITDA of $1.42B and EPS of $0.70. The company saw strong demand across its portfolio, with a book-to-bill ratio of 1.3x. IET orders reached $5.9B, including significant LNG and power systems awards. The Chase acquisition is expected to expand the company's market opportunity to $400B and improve margins to 22-23% by 2028. Key awards were secured in data centers, gas infrastructure, and offshore production.

Baker Hughes (BKR) secured a contract from Eni to provide subsea production systems for the Cronos gas project offshore Cyprus. The deal, booked in Q3 2026, includes equipment and services for an accelerated project timeline. Baker Hughes aims to deliver initial equipment by early 2027, leveraging its deepwater expertise.

Baker Hughes reported Q3 adjusted earnings and revenues above expectations, but shares fell 5.4% due to reduced demand in the Middle East. Profit declined to $411M ($0.41/share) from $609M ($0.61/share) a year earlier, according to the company.

Baker Hughes (BKR) reported Q3 2026 earnings of $0.70 per share, beating estimates, with revenue of $8.03B. Shares fell 6% due to concerns over leverage from the Chart acquisition. The company raised its IET order target to $50B for 2026-2028, citing strong demand in power systems and gas infrastructure.

Baker Hughes (BKR) won a contract from Eni for subsea production systems and services for the Cronos gas project offshore Cyprus. The contract, booked in Q3 2026, includes equipment and services, with deliveries starting in early 2027. Financial details were not disclosed.