Baker Hughes raises industrial outlook on record orders ahead of Chart deal
Energy technology company Baker Hughes posted record orders in its Industrial & Energy Technology (IET) division in the second quarter of 2025, driven by data centre and low-carbon projects, and raised its full-year outlook. The results come as the company readies a $13.6bn acquisition of Chart Industries to deepen its reach in higher-growth markets.
As reported in its latest round of financial results, the firm holds a record $31.3bn backlog in IET projects and has secured $3.5bn worth of IET orders in Q2 2025.
The quarter saw $550m in orders for data centre power generation, including two major contracts for 46 NovaLT gas turbines, with Baker Hughes expecting to meet or exceed its $1.5bn three-year target for data centre orders ahead of schedule due to “surging momentum in data centre developments.”
Orders for low-carbon solutions such as carbon capture, geothermal and hydrogen reached $1bn in the period, matching the total secured in 2024.
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