Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 93

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 Precision Sensors & Instrumentation to Crane Company and the creation of the Surface Pressure Control joint venture with Cactus, Inc. are progressing as expected, with both transactions anticipated to close in early 2026.

Baker Hughes Company 2025 Third Quarter Form 10-Q | 26

In the third quarter of 2025, we returned $227 million to shareholders through dividends.

Outlook

Our business is exposed to a number of macro factors, which influence our outlook and expectations given the current macroeconomic uncertainty and continued volatile conditions in the industry. All of our outlook expectations are purely based on the market as we see it today and are subject to changing conditions in the industry.

•OFSE outlook: We expect continued soft operator activity through the remainder of 2025, and global upstream spending will remain constrained until the potential excess oil supply is absorbed.

•IET outlook: We see continued strength in LNG and gas infrastructure, as well as increasing opportunities to leverage our versatile portfolio to enhance IET's position across industrial and distributed power markets, with a growing emphasis on data centers.

We also expect to see continued growth in new energy solutions specifically focused around reducing carbon emissions for the energy and broader industrial sectors. These include hydrogen; geothermal; carbon capture, utilization and storage; energy storage; clean power; and emissions abatement solutions.

Overall, we believe our portfolio is uniquely positioned to compete across the energy value chain and deliver integrated, high-impact solutions for our customers. Over time, we believe global energy demand will continue to rise, supported by durable, secular macroeconomic trends, with hydrocarbons continuing to play a fundamental role in meeting the world's energy needs. As such, we remain focused on delivering innovative, lower-emission, and cost-effective solutions that drive meaningful improvements in operational and financial performance for our customers.

Sustainability

We believe we have an important role to play in society as an industry leader and partner. We view the area of sustainability as a lever to transform the performance of our Company. In 2019, we made a commitment to reduce Scope 1 and 2 carbon dioxide equivalent emissions from our operations by 50% by 2030 and achieve net-zero emissions by 2050. We continue to make progress on emissions reductions and reported in our 2024 Corporate Sustainability Report a 29.3% reduction in our Scope 1 and 2 carbon dioxide equivalent emissions as compared to our 2019 base year.

BUSINESS ENVIRONMENT

The following discussion and analysis summarizes the significant factors affecting our results