Baker Hughes Q2: Adj EBITDA up 7% to $1.2B; IET orders $3.5B; raises FY guidance

Baker Hughes Co

Orders of $7.0B, IET orders $3.5B; RPO $34.0B, record IET RPO $31.3B.
Revenue $6.9B (-3% YoY); GAAP diluted EPS $0.71, adjusted EPS $0.63.
Adjusted EBITDA $1,212M (+7% YoY); margin 17.5% (+170 bps).
Free cash flow $239M; returned $423M to shareholders ($196M buybacks).
Announced three strategic transactions to optimize portfolio; raised IET revenue and EBITDA guidance.

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