Baker Hughes Company

What does Baker Hughes own?
Baker Hughes operates under a single corporate brand covering Oilfield Services & Equipment and Industrial & Energy Technology, with legacy product names including Hughes, Bently Nevada, and Nuovo Pignone.

Is Baker Hughes publicly traded?
Yes. Baker Hughes trades on Nasdaq under ticker BKR and is a component of the S&P 500.

Who founded Baker Hughes?
Reuben C. Baker founded the Baker predecessor in 1907. Howard Hughes Sr. founded the Hughes Tool predecessor in 1908. The two merged in 1987; the modern company formed in 2017 via the GE Oil & Gas combination.

Where is Baker Hughes headquartered?
Baker Hughes is headquartered in Houston, Texas, USA.

Who owns Baker Hughes?
Baker Hughes is owned by public shareholders with no controlling investor. Lorenzo Simonelli serves as Chairman and CEO.

What is Baker Hughes' revenue?
Baker Hughes reported FY2025 revenue of $27.7 billion, flat year over year, with net income of $2.6 billion and adjusted EBITDA of $4.8 billion.

What does Baker Hughes make?
Baker Hughes provides oilfield drilling, completion, and production services plus industrial energy technology including gas turbines, compressors, LNG equipment, and energy transition solutions.

The company's roots trace to 1907, when Reuben C. Baker founded the Baker Casing Shoe Company in California, and 1908, when Howard Hughes Sr. founded the Hughes Tool Company, the predecessor of the Hughes drill bit business. These two companies merged in 1987 to form Baker Hughes Incorporated.

Baker Hughes grew through the twentieth century into one of the three global oilfield services giants alongside Schlumberger and Halliburton, providing drilling, completion, and production services plus the iconic Hughes drill bit technology.

The transformational event came in 2017, when Baker Hughes merged with GE Oil & Gas in a deal that combined the oilfield services business with GE's industrial energy equipment including turbines, compressors, and LNG technology. Lorenzo Simonelli, who had run GE Oil & Gas, became CEO of the combined company headquartered in Houston.

The company's most recent major move is the announced acquisition of Chart Industries in July 2025, valued at approximately $13.6 billion, expected to close in Q2 2026. Chart's gas and liquid molecule handling technology strengthens the Industrial & Energy Technology segment's position in LNG and energy transition equipment.

Baker Hughes positions itself as an energy transition technology company, emphasizing its LNG, hydrogen, carbon capture, and emissions reduction technologies alongside its traditional oilfield business. The company reports on operational emissions and customer-facing transition solutions.

The company's role in the transition is debated: its industrial technology enables lower-carbon energy infrastructure including LNG and hydrogen, while its oilfield services business is inherently tied to continued fossil fuel production. This dual position is characteristic of energy technology companies navigating the transition.

• Fortune 500: Baker Hughes ranks on the Fortune 500 by revenue.
• Industry recognition: The company's turbomachinery and LNG technology businesses are recognized as sector leaders.
• HSE and technology awards: Periodic industry recognition for safety and technical innovation.

Oil price cyclicality: The company's fortunes are tied to the oil and gas cycle, with periodic layoffs and restructuring during downturns drawing attention to labor practices and community impact in Houston and other operating locations.

Fossil fuel industry opposition: As an oilfield services company, Baker Hughes is subject to the broader environmental movement's opposition to fossil fuel infrastructure and extraction activity.

GE legacy liabilities: The company inherited certain liabilities from the GE Oil & Gas combination, managed through standard legal and financial processes.