Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 97

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 4,290 3,810 480 Gas Technology Services896 778 117 2,795 2,239 556 Total Gas Technology3,070 1,866 1,203 7,085 6,049 1,036 Industrial Products481 494 (13)1,494 1,564 (70)Industrial Solutions336 293 43 944 831 113 Total Industrial Technology817 787 30 2,438 2,395 43 Climate Technology Solutions (1)253 215 38 1,324 800 524 Industrial & Energy Technology4,139 2,868 1,271 10,847 9,244 1,603 Total$8,207 $6,676 $1,532 $21,699 $20,744 $955 

(1)For the three and nine months ended September 30, 2025 and 2024, total new energy orders incorporates Climate Technology Solutions ("CTS") in IET.

The Remaining Performance Obligations ("RPO") relate to the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations. As of September 30, 2025, RPO totaled $35.3 billion, of which OFSE totaled $3.2 billion, and IET totaled $32.1 billion.

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

Third Quarter of 2025 Compared to the Third Quarter of 2024

Revenue increased $0.1 billion, or 1%, to $7.0 billion. OFSE decreased $0.3 billion, or 8%, and IET increased $0.4 billion, or 15%.

Selling, general and administrative costs decreased $5 million, or 1%, to $607 million.

Research and development costs decreased $11 million, or 7%, to $146 million.

We recorded other expense of $71 million in the third quarter of 2025, which included $47 million of transaction costs related to business acquisition and disposal activities and a net loss of $8 million from the change in fair value of equity securities. In the third quarter of 2024, we recorded $134 million of other income. Included in this amount was a net gain of $99 million from the change in fair value of equity securities.

Net interest expense incurred in the