Company: BKR
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001701605-25-000117
Chunk: 99

Company: Baker Hughes Co
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 segment EBITDA of $671 million decreased $94 million, or 12%, in the third quarter of 2025 compared to the third quarter of 2024. The reduction of EBITDA in the third quarter of 2025 was a result of overall lower volume, inflation, and changes in business mix, partially offset by cost out initiatives, price and overall productivity improvements.

Industrial & Energy Technology

Three Months Ended September 30,$ Change20252024RevenueGas Technology Equipment$1,687 $1,281$407 Gas Technology Services803 697106 Total Gas Technology2,490 1,978513 Industrial Products511 520(10)Industrial Solutions288 25732 Total Industrial Technology799 77722 Climate Technology Solutions84 191(106)Total$3,374 $2,945$429 Cost of goods and services sold$2,399 $2,071$328 Research and development costs86 91(5)Selling, general and administrative309 309— Less: Depreciation and amortization(55)(54)(1)Segment EBITDA$635 $528$108 

IET revenue of $3,374 million increased $429 million, or 15%, in the third quarter of 2025 compared to the third quarter of 2024, with increases in GTE and to a lesser degree in GTS, partially offset by CTS.

IET segment EBITDA of $635 million increased $108 million, or 20%, in the third quarter of 2025 compared to the third quarter of 2024. The improved performance in the third quarter of 2025 was driven by volume, pricing and favorable FX, partially offset by lower cost productivity and cost inflation.

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

Revenue decreased $0.1 billion, or 1%, to $20.3 billion. OFSE decreased $1.0 billion, or 9%, and IET increased $0.9 billion, or 10%.

Selling, general and administrative costs decreased $122 million, or 6%, to $1,751 million driven primarily by a continued focus on cost optimization, partially offset by inflationary pressure.

Research and development costs decreased $26 million, or 5%, to $453 million.

We recorded other expense of $77 million in the first nine months of 2025, which included $58 million of