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Baker Hughes (BKR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Baker Hughes (BKR) Q3 2026 earnings results →
Q3 2026 Revenue up 14% year over year to $8.0B · 5¢ of every $1 of revenue kept as net profit · operating margin 6.5%
Baker Hughes made $8.0B in Q3 2026 (+14% Y/Y): OFSE $3.7B, IET $3.5B, Chart $888M. Operating margin 6.5%, net earnings $411M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $8.0B in Q3 2026, up 14% year over year and up 19% from the previous quarter. OFSE was the largest line at 46% of revenue. IET added $0.10B year over year (up 3%), 10% of the total change.
Operating profit was $0.52B, a 6.5% margin (down 5.2 points year over year). Operating profit fell $0.30B even though revenue rose $1.0B versus Q3 2025, so costs grew faster than sales. Total costs grew 21% against revenue growth of 14%. The fastest-growing cost line was SG&A (+23%). Net earnings were $0.41B, down 33% year over year. The effective tax rate was 18.7%.
Operating cash flow was $1.0B (up 8% year over year), 238% of net income including minority interests. Non-cash charges added back $0.51B of depreciation and amortization and $0.06B of share-based compensation. Capital expenditures of $0.27B left free cash flow of $0.73B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $8.0B | +14% | 6.5% | $411M | $1.0B |
| Q2 2026 | 10-Q | Jul 27, 2026 | $6.7B | -2% | 13.2% | $681M | $1.3B |
| Q1 2026 | 10-Q | Apr 24, 2026 | $6.6B | +2% | 19.3% | $930M | $500M |
| Q4 2025 | 10-K | Feb 5, 2026 | $7.4B | +0.3% | 7.1% | $876M | $1.7B |
| Q3 2025 | 10-Q | Oct 24, 2025 | $7.0B | +2% | 11.7% | $609M | $929M |
| Q2 2025 | 10-Q | Jul 23, 2025 | $6.9B | -3% | 14.0% | $701M | $510M |
| Q1 2025 | 10-Q | Apr 23, 2025 | $6.4B | +0.1% | 8.7% | $402M | $709M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- GEV · Stated in 10-K (named, share not stated) · source
- DTI · Stated in 10-K (named, share not stated) · source
About Baker Hughes
Baker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward. With our diverse portfolio, leading technology and clear purpose to make energy safer, cleaner and more efficient, Baker Hughes is well positioned to deliver solutions across industrial and energy markets. By integrating health, safety & environment ("HSE") into everything we do, we protect our people, our customers, and the environment.
In its own words, from its 10-K, filed Feb 5, 2026.
Baker Hughes against its Oil & Gas Field Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +14%. Operating margin: 6.5% against the peers' median 13.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BKR Baker Hughes | Q3 2026 | $8.0B | +14% | 6.5% |
| FTI TechnipFMC | Q3 2026 | $2.9B | +9% | 19.5% |
| NOV NOV | Q3 2026 | $2.2B | +2% | 6.4% |
| DNOW Dnow | Q3 2026 | $1.3B | +111% | 2.5% |
| WFRD Weatherford International | Q3 2026 | $1.1B | -7% | 13.4% |
| WHD Cactus | Q3 2026 | $431M | +63% | 21.8% |
| SEI Solaris Energy Infrastructure | Q3 2026 | $341M | +104% | 19.6% |
| INVX Innovex International | Q3 2026 | $265M | +10% | 12.2% |
| FLOC Flowco Holdings | Q3 2026 | $259M | +46% | 18.5% |
Source: Baker Hughes 10-Q on SEC EDGAR · CIK 1701605 · Oil & Gas Field Machinery & Equipment
Guidance and outlook
13F: who owns BKR and who is buying
More on BKR
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results