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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Howmet is well positioned in this segment by the supply of turbine blades, where we are the largest manufacturer of gas turbine blades in the world, covering our key customers of GE Vernova, Siemens Power, Mitsubishi Heavy and [ Saldo, Solar and Baker Hughes ], plus parts for aero derivative engines produced by GE Aviation.”
Baker Hughes is named among Howmet's key gas turbine blade customers in a growing gas turbine market.
“We were also the lead advisor to Baker Hughes on its strategic acquisition of Chart Industries for $14 billion”
Goldman was lead advisor to Baker Hughes on its $14B acquisition of Chart Industries. Read-through: Baker Hughes is expanding via a sizable industrial acquisition.
“We signed new AWS agreements with companies including Intuit, PayPal, Norwegian Cruise Line Holdings, Northrop Grumman, The Guardian Life Insurance Company of America, Reddit, Japan Airlines, Baker Hughes, the Hertz Corporation, Resin Chime Financial, Asana, and many others.”
Baker Hughes signed a new AWS cloud agreement in the quarter.
“We are enabling Baker Hughes in building and offering to their clients large AI native digital platforms by combining EPAM best-in-class project engineering capabilities with Baker Hughes' expertise in energy technology.”
EPAM is expanding its AI-native digital platform engagement with Baker Hughes, combining EPAM engineering with Baker Hughes' energy-technology expertise to serve Baker Hughes' own clients.
“The awards with KOC and PDO cover the deployment of advanced ESP systems and Leucipa in over 1,000 wells”
Petroleum Development Oman, alongside Kuwait Oil Company, awarded Baker Hughes multiyear contracts deploying ESP systems and Leucipa across 1,000+ wells, indicating sustained upstream activity.
“approximately $1 billion of multiyear contracts in the fourth quarter from Kuwait Oil Company, Petroleum Development Oman and ADNOC”
Baker Hughes won ~$1B of multiyear Middle East production-solutions contracts, with KOC and PDO awards covering ESP systems and Leucipa across 1,000+ wells, reflecting continued NOC upstream spending.
“the ADNOC contract includes the deployment of our AccessESP system in the offshore Umm Shaif Field”
Baker Hughes secured a multiyear ADNOC contract deploying its AccessESP system in the offshore Umm Shaif Field with continuous digital monitoring, reflecting sustained upstream investment by ADNOC.
“the 5 Organic Rankine Cycle power plants at Fervo's Cape Station power generation project, which is expected to deliver 300 megawatts”
Baker Hughes won an order to supply Organic Rankine Cycle power plants for Fervo's Cape Station geothermal project (~300 MW), signaling progress on Fervo's flagship geothermal development.
“the formation of the Surface Pressure Control joint venture with Cactus”
Baker Hughes formed a Surface Pressure Control joint venture with Cactus (retaining 35% minority ownership), part of BKR's portfolio management; Cactus gains a controlling interest in the SPC business.
“long-term service agreements for Cheniere”
Baker Hughes won long-term aftermarket service agreements for Cheniere's Corpus Christi Trains 8 and 9, reflecting expansion activity at Cheniere's LNG facilities.
“Commonwealth LNG's export terminal”
Baker Hughes supplied liquefaction technology for Commonwealth LNG's export terminal, an order win indicating the project is advancing.
“providing critical liquefaction technology for Train 5 at NextDecade's Rio Grande LNG facility”
Baker Hughes booked LNG equipment orders for Train 5 of NextDecade's Rio Grande LNG, plus iCenter monitoring for Trains 1-3, signaling continued build-out progress at NextDecade's export project.
“the pending acquisition of Chart will add differentiated thermal-management capabilities, further complementing our power generation portfolio and enabling the development of integrated trigeneration solutions for customers”
Baker Hughes' pending acquisition of Chart Industries is central to its power-systems strategy, adding thermal-management capabilities and integrated trigeneration solutions; BKR expects to close in Q2 2026 and targets $325M of cost synergies.
“the sale of precision sensors and instrumentation and the creation of the surface pressure control JV with Cactus are progressing as expected”
Baker Hughes is forming a surface pressure control joint venture with Cactus, expected to close early next year.
“I'm pleased to report that we closed the acquisition of Continental Disc Corporation on August 7”
Baker Hughes closed its acquisition of Continental Disc Corporation on August 7 as part of ongoing portfolio management.
“we booked a major order from Technip Energies for the Blue Point #1 project in Louisiana.”
Technip Energies ordered compression and power equipment from Baker Hughes for the Blue Point #1 low-carbon ammonia project in Louisiana.
Baker Hughes achieved record full-year EBITDA and free cash flow, with IET reaching the 20% margin milestone and record orders exceeding guidance. Revenue was roughly flat at +0.3% while EPS declined 25.4%. New energy orders set a record at $2 billion and power systems emerged as a major growth driver. Management introduced FY2026 guidance of $4.85 billion total EBITDA with organic mid-single-digit growth. Portfolio optimization was completed with PSI/SPC.
Demand | Margin | Capex Investment | Capital Allocation | M&A | Cost Pressure | Cloud & AI | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 2 | 1 | 2 | 1 | 1 | 1 | |
| 2025Q1 | 2 | 2 | 1 | 1 | 3 | |||
| 2025Q2 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | |
| 2025Q3 | 3 | 2 | 1 | 1 | 2 | 1 | 1 | |
| 2025Q4 | 2 | 1 | 2 | 1 | 1 | 1 | 2 | |
| 2026Q1 | 4 | 2 | 2 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 2 | 1 | 3 | 2 | 4 |
| Margin | 2 | 2 | 1 | 2 | 1 | 2 |
| Capex Investment | 1 | 1 | 1 | 2 | 2 | |
| Capital Allocation | 2 | 1 | 1 | 1 | 1 | |
| M&A | 1 | 1 | 2 | 1 | 1 | |
| Cost Pressure | 1 | 1 | 2 | 1 | 1 | |
| Cloud & AI | 1 | 1 | 1 | 2 | 1 | |
| Trade Tariffs | 3 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Arun Jayaram | JPMorgan | 7 (0%) |
| David Anderson | Barclays | 6 (0%) |
| Scott Gruber | Citigroup |
| Saurabh Pant | Bank of America | 5 (0%) |
| Steve Gengaro | Stifel | 4 (0%) |
| Jim West | Melius Research | 3 (0%) |
| Marc Bianchi | TD Cowen | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 7 (0%) |
| Barclays | 1 | 6 (0%) |
| Citigroup | 1 | 6 (0%) |
| Bank of America | 1 | 5 (0%) |
| Stifel | 1 | 4 (0%) |
| Melius Research | 1 | 3 (0%) |
| TD Cowen | 1 | 2 (0%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BKR Baker Hughes | 6 | +2.5% | |
| HAL Halliburton | 4 | -0.3% | |
| SLB Schlumberger | 2 | +2.7% |