Baker Hughes Co (NASDAQ: BKR)

Baker Hughes Company is an energy technology company that provides a diversified portfolio of technologies and services spanning the energy and industrial value chain. It operates in more than 120 countries, delivering solutions for oil and gas, liquefied natural gas, power generation, renewable energy and emerging areas such as hydrogen, carbon capture utilization and storage, geothermal and low carbon power. The company aims to make energy safer, cleaner and more efficient while integrating health safety and environment considerations into its operations.

The company generates revenue by selling products and providing services to customers across the upstream, midstream, downstream, new energy, power and utilities, chemical and industrial sectors. Its offerings include equipment, aftermarket support, digital solutions, turnkey projects and subscription based analytics. Sales are made primarily through a direct sales force with local teams supplemented by indirect channels.

The company operates through the following segments.

• Oilfield Services & Equipment: This segment designs and manufactures products and provides related services and integrated solutions for onshore and offshore oilfield operations across the asset life cycle including well construction completions intervention and measurements production solutions and subsea and surface pressure systems. It also expands into new energy areas such as geothermal and carbon capture utilization and storage while strengthening its digital architecture.

• Industrial & Energy Technology: This segment combines domain expertise technologies software and services for energy and industrial customers across applications including liquefied natural gas, pipeline and gas storage, refining, petrochemical, hydrogen, geothermal, carbon capture utilization and storage, power generation integrated with renewable energy sources, and serves verticals such as pulp and paper, food and beverage, automotive, marine, aerospace. It consists of five product lines: Gas Technology Equipment, Gas Technology Services, Industrial Products, Industrial Solutions, and Climate Technology Solutions.

Baker Hughes holds a strong position in the energy technology industry, ranking among the top providers for the majority of product lines in the markets it serves. In the Oilfield Services & Equipment segment it competes with SLB Halliburton NOV Weatherford and TechnipFMC while in the Industrial & Energy Technology segment its main competitors are Siemens Energy Solar a Caterpillar company Mitsubishi Heavy Industry Sulzer Flowserve and Emerson. The company differentiates itself through its technology innovation global presence broad portfolio and significant investment in research and development, which included $600 million of R&D expense in 2025 and the issuance of more than 1,400 patents worldwide.

The company serves a diverse customer base that includes integrated major and supermajor oil and natural gas companies, U. S. and international independent oil and gas companies, state owned oil and gas companies, engineering procurement and construction contractors, geothermal and renewable energy firms, other oilfield services companies, LNG plants, pipelines, storage facilities, data centers, utilities, marine operators, cement and steel producers, refinery and petrochemical companies, aerospace automotive pharmaceutical nuclear mining and various other industrial users.