Baker Hughes has expanded its long-standing relationship with Hydrostor through a strategic technology solutions and equity agreement announced at its 2026 Annual Meeting in Florence. Under the terms of the deal, Baker Hughes will supply up to 1.4 GW of compression, expander, motor and generator equipment for Hydrostor’s advanced compressed air energy storage (A-CAES) flagship projects in the United States and Australia. This integration positions Baker Hughes’ modular power generation and storage technologies at the core of Hydrostor’s design platform, reinforcing the company’s role in delivering low-carbon, long-duration energy storage solutions to stressed electric grids worldwide.

For the full year, Baker Hughes delivered a record adjusted EBITDA of 4.83 billion and generated 2.7 billion in annual free cash flow, driven by disciplined cost management and strong project execution across its portfolio. Fourth-quarter adjusted EBITDA reached 1.34 billion, exceeding the midpoint of guidance, while quarterly free cash flow was 1.3 billion. These results reflect the company’s ability to convert revenue into cash and strengthen its balance sheet, supported by a record backlog of 32.4 billion and a book-to-bill ratio above 1.

Baker Hughes’ Industrial & Energy Technology segment achieved a record 14.9 billion in orders for the year, fueled by demand for LNG solutions and data center power systems. Its Power Systems business posted 2.5 billion in orders, including 1.0 billion tied to large-scale data center applications. Looking ahead, management identifies significant revenue opportunities in emerging markets such as Venezuela—pending regulatory clarity and safety protocols—and sees long-duration storage as a key growth driver as utilities and AI data centers seek resilient, low-carbon power solutions.