Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 108

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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,200$(309)Research and development costs65 632 Selling, general and administrative219 255(36)Other (income) expense(1)—(1)Less: Depreciation and amortization(233)(223)(10)Segment EBITDA$677 $716$(39)

OFSE revenue of $3,617 million decreased $394 million in the second quarter of 2025 compared to the second quarter of 2024, driven by lower international and domestic rig count. From a geographical perspective, international revenue was $2,689 million, a decrease of $298 million from the second quarter of 2024, driven by all international regions. North America revenue was $928 million in the second quarter of 2025, a decrease of $96 million from the second quarter of 2024.

OFSE segment EBITDA was $677 million in the second quarter of 2025 compared to $716 million in the second quarter of 2024. The reduction of EBITDA in the second quarter of 2025 was a result of overall lower volume, 

Baker Hughes Company 2025 Second Quarter Form 10-Q | 29

changes in business mix, and inflation, partially offset by overall productivity improvements, including cost out initiatives, and favorable price.

Industrial & Energy Technology

Three Months Ended June 30,$ Change20252024RevenueGas Technology Equipment$1,624 $1,539$85 Gas Technology Services752 69161 Total Gas Technology2,377 2,230146 Industrial Products488 509(21)Industrial Solutions273 26211 Total Industrial Technology761 770(10)Climate Technology Solutions156 12828 Total$3,293 $3,128$165 Cost of goods and services sold$2,389 $2,268$121 Research and development costs96 951 Selling, general and administrative283 323(40)Other (income) expense(4)—(4)Less: Depreciation and amortization(56)(55)(1)Segment EBITDA$585 $497$88 

IET revenue of $3,293 million increased $165 million, or 5%, in the second quarter of 2025 compared to the second quarter of 2024, with increases in GTE, GTS and CTS, partially offset by Industrial Technology.

IET segment EBITDA was $585 million in the second quarter of 2025 compared