Comparing the current results to its competitors, Baker Hughes reported Revenue increase in the 1 quarter 2026 by 2.49 % year on year. The revenue growth was below Baker Hughes's competitors' average revenue growth of 6.35 %, achieved in the same quarter.
Baker Hughes Company Net Income in the 1 quarter 2026 grew year on year by 129.34%, faster than the Baker Hughes's competitors average income growth of 19.84 %
Baker Hughes's Comment on Competition and Industry Peers
The Oilfield Services & Equipment (OFSE) segment operates in competitive markets with key competitors including SLB, Halliburton, NOV, Weatherford, and TechnipFMC. The Industrial & Energy Technology (IET) segment serves various industries such as oil and gas, power generation, aerospace, and industrials, competing primarily with Siemens Energy, Solar (a Caterpillar company), Mitsubishi Heavy Industry, Sulzer, Flowserve, and Emerson. Other competitors mentioned in company filings include Emerson, Flowserve, Halliburton, Mitsubishi Heavy Industry, NOV, Siemens Energy, SLB, Solar, Sulzer, TechnipFMC, and Weatherford.
February 3, 2025
FLORENCE, Italy, Feb. 03, 2025 Argent LNG LLC (Argent LNG) has announced a strategic partnership with Baker Hughes (NASDAQ: BKR), a leading energy technology provider, to support the development of its proposed liquefied natural gas (LNG) export facility in Port Fourchon, Louisiana. The collaboration was unveiled during Baker Hughes Annual Meeting held in Florence, Italy.Under this agreement, Baker Hughes will deliver advanced liquefaction solutions along with essential services that include cutting-edge power generation equipment and gas compression systems. This state-of-the-art technology is expected to enable the facility to achieve a projected output of approximately 24 million tonnes per annum (MTPA...
November 21, 2024
Baker Hughes Bolsters Namibian Energy Sector with New Facilities WALVIS BAY, Namibia, Nov. 21, 2024 Baker Hughes (NASDAQ: BKR), a leading global energy technology company, made a significant stride in expanding its footprint in Namibia with the inauguration of three new state-of-the-art facilities in Walvis Bay: a liquid mud plant, a cement bulk facility, and an integrated multi-modal facility. This landmark development is expected to significantly bolster Namibia s burgeoning energy industry while promoting local economic growth and employment opportunities.The newly opened liquid mud plant will provide essential fluids used in the drilling process, enhancing operational efficiency and ensuring high perfo...
June 10, 2024
Baker Hughes Secures Major Contracts with Petrobras for Offshore Operations in Brazil Houston, June 10, 2024 Baker Hughes (NASDAQ: BKR), a leading energy technology company, continues to solidify its position in the global energy market with two significant contract awards from Petrobras, the Brazilian state-run oil giant. These contracts mark pivotal advancements in both the technological and operational domains of the company’s offshore work.In the most recent announcement, Baker Hughes has secured a major order from Petrobras for workover and plug and abandonment (PandA) services in the highly strategic pre-salt and post-salt fields offshore Brazil. The pre-salt fields, which are among the world s mos...
April 3, 2024
Decarbonizing the Italian Gas Network: Baker Hughes and Snam PartnershipBaker Hughes, the energy technology company, has been awarded a contract by Snam, Europe s leading operator in natural gas transportation, to provide hydrogen-ready technology for the decarbonization and resilience of the Italian gas network. This collaboration comes at a time when the global energy landscape is rapidly shifting towards sustainable practices to combat climate change.The contract, to be booked in the first quarter of 2024, includes the supply of three NovaLT12 gas turbine-driven compressor trains for a new gas compressor station in Sulmona, Italy. These compressors will play a crucial role in boosting the capacity of the ...
March 14, 2024
Baker Hughes Achieves Breakthrough in Flare Emissions Monitoring in Collaboration with bp, Demonstrates Strong Financial PerformanceIn a remarkable collaboration, Baker Hughes, the energy technology company, has achieved a major breakthrough in flare emissions monitoring through its partnership with bp. This development showcases the company s commitment to environmental sustainability and demonstrates its ability to leverage cutting-edge technology to address pressing challenges in the energy sector. Additionally, Baker Hughes has reported impressive financial results, outperforming its competitors in terms of revenue growth and profitability. The company s net income in the fourth quarter of 2023 witnessed...
February 21, 2024
Baker Hughes Secures Major Contract with Petrobras and Demonstrates Impressive Performance Against CompetitorsHOUSTON, Feb. 21, 2024 - Baker Hughes (NASDAQ: BKR), a leading energy technology company, announced today a significant contract award from Petrobras for integrated well construction services in the Buzios field, offshore Brazil. This contract signifies a major milestone for Baker Hughes and showcases the company s capabilities in delivering top-notch solutions to its clients.The contract with Petrobras is a multi-year agreement, highlighting the long-term partnership between the two companies. Baker Hughes will provide comprehensive well construction services, utilizing its state-of-the-art technolo...
January 29, 2024
Baker Hughes, a renowned energy technology company, recently unveiled significant milestones aimed at supporting the growth of the hydrogen economy. These achievements were announced during the 24th Baker Hughes Annual Meeting held in Florence, Italy. The company showcased advancements in its hydrogen enabling technologies, progress in executing multiple hydrogen projects for customers, and new collaborations in this burgeoning sector.Fueling the Transition to Hydrogen:Baker Hughes remains committed to driving the global transition towards a hydrogen-based economy. The company s initiatives aim to harness the potential of hydrogen as a clean and sustainable energy source, reducing carbon emissions and promot...
Expro Group Holdings N.V. operates as an oil and gas service company with a focus on well flow management. Their business model involves offering a comprehensive range of products, technologies, and services to support the complete lifecycle of oil and gas wells. This includes well testing, well intervention, subsea, and surface wellhead systems, helping their clients optimize production and recover reserves from their assets.
Rpc Inc operates as an oilfield services company, providing a wide range of technical services and equipment to the oil and gas industry. The company's business model revolves around offering drilling and production services, along with specialized tools and equipment for well construction, intervention, and completion. Rpc Inc aims to maximize customer satisfaction by delivering cost-effective solutions that improve operational efficiency and minimize downtime in the oil and gas sector.
Propetro Holding Corp is an oilfield services company that specializes in providing hydraulic fracturing, or fracking, services to oil and gas exploration and production companies. Their business model revolves around offering a comprehensive range of fracking services, including well stimulation, consulting, and equipment maintenance, to help clients optimize oil and gas production. Propetro focuses on maintaining efficient operations, leveraging technology, and employing highly qualified personnel to deliver innovative solutions to their customers in the energy industry.
Patterson-UTI Energy Inc. operates as a provider of onshore drilling services and related equipment for oil and natural gas companies. Their business model is centered around offering drilling solutions, including rigs, directional drilling services, and pressure pumping services, to help their clients extract and produce energy resources. They aim to leverage their extensive fleet and expertise to deliver efficient and high-quality drilling services, contributing to the growth and success of energy companies in the United States.
Oil States International Inc operates as a global provider of services and products to the oil and gas industry. Their business model revolves around offering a comprehensive range of integrated solutions and equipment across various stages of the oil and gas lifecycle. These solutions include well site services, offshore products, and tubular services, catering to exploration, production, and infrastructure needs of their customers worldwide.
Sources:
Baker Hughes Company’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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