M&A
confidence high
sentiment neutral
materiality 0.65
Baker Hughes closes $14.8B Chart Industries acquisition; pro forma FY2025 EPS $2.09 vs $2.60 actual
Baker Hughes Co
- Preliminary merger consideration totals $14.806B: $10.054B cash for Chart shares at $210/share, $4.451B to repay Chart debt, $258M Flowserve termination fee, $43M for stock awards.
- Pro forma FY2025 revenue $31.647B vs $27.733B actual; net income attributable to Baker Hughes $2.075B vs $2.588B actual; diluted EPS $2.09 vs $2.60.
- Pro forma Q1 2026 revenue $7.450B, net income attributable $850M, diluted EPS $0.85 vs actual $0.93; goodwill of $8.5B and intangibles of $6.0B recorded.
- Chart's IPSMR business classified held for sale as condition of regulatory approvals; $80M purchase price adjustment related to those held-for-sale assets.
- Pro forma includes $2.0B financing adjustment for long-term debt; interest expense rose to $791M FY2025 and $209M Q1 2026.