Company: BKR
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001701605-25-000107
Chunk: 45

Company: Baker Hughes Co
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 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 to $497 million in the second quarter of 2024. The improved performance in the second quarter of 2025 was driven by positive pricing, favorable FX, and overall productivity, partially offset by inflationary pressure.

The First Six Months of 2025 Compared to the First Six Months of 2024

Revenue decreased $0.2 billion to $13.3 billion. OFSE decreased $0.7 billion and IET increased $0.5 billion.

Selling, general and administrative cost decreased $117 million, or 9%, to $1,144 million driven primarily by a continued focus on cost optimization, partially offset by inflationary pressure.

Research and development cost decreased $15 million, or 5%, to $