Baker Hughes Updates FY2026 Guidance & Integration Outlook Following Chart Industries Acquisition

Executive Summary

On September 9, 2026, Baker Hughes Company ($BKR) filed a Form 8-K under Item 7.01 (Regulation FD Disclosure) disclosing an investor presentation delivered by Chairman, President, and CEO Lorenzo Simonelli at the Barclays 2026 CEO Energy-Power Conference. The presentation detailed the company's updated fiscal year 2026 financial guidance and synergy roadmap following the completed acquisition of Chart Industries, Inc.

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Key Highlights & Updated FY 2026 Guidance

1. Consolidated Financial Guidance (FY 2026)

• Revenue: $28,500M to $30,300M (Midpoint: $29,400M)
• Adjusted EBITDA: $4,875M to $5,475M (Midpoint: $5,175M)
• Free Cash Flow Conversion: 40% to 45% (reflects acquisition-related interest, transaction, and integration costs)
• Adjusted Effective Tax Rate: 22% to 26%
• Corporate Costs: Approximately $325M
• D&A (excluding acquired intangibles): Approximately $1,400M

2. Segment Outlook

• Industrial & Energy Technology (IET):
  • Orders: $17,500M – $19,500M (Midpoint: $18,500M)
  • Revenue: $13,150M – $13,850M (Midpoint: $13,500M)
  • EBITDA: $2,600M – $2,850M (Midpoint: $2,725M)
• Oilfield Services & Equipment (OFSE):
  • Revenue: $13,500M – $14,200M (Midpoint: $13,850M)
  • EBITDA: $2,300M – $2,550M (Midpoint: $2,425M)
• Chart (From July 16, 2026 closing through year-end):
  • Revenue: $1,850M – $2,250M (Midpoint: $2,050M)
  • EBITDA: $300M – $400M (Midpoint: $350M)
  • Expected RPO of ~$3.6B at the end of Q3 2026 after policy alignment.

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Strategic & Long-Term Targets

• Chart Synergies & Margins: Targeting Chart segment EBITDA margin expansion from ~17% (2H'26) to 22%–23% (2H'28), supported by $35M in cost synergies executed since closing.
• Long-Term Targets (Horizon 2 - 2028): Reaffirmed 20% Adjusted EBITDA margin target for Baker Hughes ex-Chart and targeted leverage ratio of 1.0x–1.5x by 2H'28.