Baker Hughes Warns of $100-$200 Million EBITDA Risk from Tariffs

Baker Hughes reported mixed first-quarter results for 2025, beating Wall Street expectations on adjusted earnings and highlighting strong growth in its Industrial & Energy Technology (IET) segment driven by rising global demand for gas technology and liquefied natural gas (LNG). Despite this, overall revenue was flat year over year and missed consensus estimates, while both domestic and international operations saw declines. The company warned that U.S. trade tariffs could reduce its annual earnings by $100 million to $200 million, contributing to broader macro and trade policy uncertainty that has tempered its 2025 outlook. Baker Hughes forecasts a decline in global oil producer spending, particularly in North America, as tariff pressures dampen demand and oil prices remain volatile. Nevertheless, CEO Lorenzo Simonelli expressed confidence in the company’s strategy and resilience, citing its strong order book and continued execution in the gas technology space. Analysts note that Baker Hughes is better positioned than some peers to weather these challenges owing to its robust IET business.