Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 47

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 of $7,116 million decreased $678 million, in the first six months of 2025 compared to the first six months of 2024, driven by lower international and domestic rig count. From a geographical perspective, international revenue was $5,267 million, a decrease of $514 million from the first six months of 2024, driven by all regions. North America revenue was $1,849 million in the first six months of 2025, a decrease of $164 million from the first six months of 2024.

OFSE segment EBITDA was $1,300 million in the first six months of 2025 compared to $1,360 million in the first six months of 2024. The reduction of EBITDA in the first six months of 2025 was a result of overall lower volume, inflationary pressure, and changes in business mix, partially offset by overall productivity improvement, cost out initiatives, and favorable price.

Baker Hughes Company 2025 Second Quarter Form 10-Q | 31

Industrial & Energy Technology

Six Months Ended June 30,$ Change20252024RevenueGas Technology Equipment$3,080 $2,749$330 Gas Technology Services1,344 1,30539 Total Gas Technology4,424 4,054370 Industrial Products933 971(38)Industrial Solutions531 5265 Total Industrial Technology1,464 1,498(34)Climate Technology Solutions334 211123 Total$6,221 $5,763$459 Cost of goods and services sold$4,501 $4,172$329 Research and development costs181 191(10)Selling, general and administrative567 628(61)Other (income) expense(5)—(5)Less: Depreciation and amortization(109)(111)2 Segment EBITDA$1,086 $883$202 

IET revenue of $6,221 million increased $459 million, or 8%, in the first six months of 2025 compared to the first six months of 2024, primarily in GTE and CTS.

IET segment EBITDA was $1,086 million in the first six months of 2025 compared to $883 million in the first six months of 2024. The improved performance in the first six months of 2025 was driven by higher volume primarily from higher proportionate growth in GTE, productivity, price,