Baker Hughes Co
For the period ended Jun 30, 2025. Filed Jul 23, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 23, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
| ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2025
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from_________to__________
Commission File Number 1-38143
Baker Hughes Company
(Exact name of registrant as specified in its charter)
| Delaware | 81-4403168 | |
|---|---|---|
| (State or other jurisdiction | (I.R.S. Employer Identification No.) | |
| of incorporation or organization) | ||
| 575 N. Dairy Ashford Rd., Suite 100 | ||
| Houston, | Texas | 77079-1121 |
| (Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code: (713)439-8600
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Class A Common Stock, par value $0.0001 per share | BKR | The Nasdaq Stock Market LLC |
| 5.125% Senior Notes due 2040 of Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc. | BKR40 | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ☑ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes ☑ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer" "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
| Large accelerated filer | ☑ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes☐ No☑
As of July 16, 2025, the registrant had outstanding 985,879,124 shares of Class A Common Stock, $0.0001 par value per share.
Table of Contents
| Page No. | ||
|---|---|---|
| PART I - · FINANCIAL INFORMATION | ||
| Item 1. · Financial Statements (Unaudited) | ||
| Condensed Consolidated Statements of Income (Loss) (Unaudited) - Three and six months ended June 30, 2025 and 2024 | 1 | |
| Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - Three and six months ended June 30, 2025 and 2024 | 2 | |
| Condensed Consolidated Statements of Financial Position (Unaudited) - June 30, 2025 and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Changes in Equity (Unaudited) - Three and six months ended June 30, 2025 and 2024 | 4 | |
| Condensed Consolidated Statements of Cash Flows (Unaudited) - Six months ended June 30, 2025 and 2024 | 6 | |
| Notes to Unaudited Condensed Consolidated Financial Statements | 7 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 25 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 35 |
| Item 4. | Controls and Procedures | 36 |
| PART II - | OTHER INFORMATION | |
| Item 1. | Legal Proceedings | 37 |
| Item 1A. | Risk Factors | 37 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 37 |
| Item 3. | Defaults Upon Senior Securities | 37 |
| Item 4. | Mine Safety Disclosures | 37 |
| Item 5. | Other Information | 38 |
| Item 6. | Exhibits | 38 |
| Signatures | 39 | |
Baker Hughes Company 2025 Second Quarter Form 10-Q | i
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.