Adjusted earnings from corporate and other decreased by $0.04 per share in Q2 2025.
Energy Resources added 3.2 gigawatts to its backlog, now totaling nearly 30 gigawatts, with 30% from storage projects.
Energy Resources' adjusted earnings per share increased by $0.11 year-over-year, driven by new investments and growth in renewables and storage portfolios.
FPL's earnings per share increased by $0.02 year-over-year in Q2, driven by nearly 8% growth in regulatory capital employed.
FPL's retail sales increased 1.7% year-over-year, or 2.6% on a weather-normalized basis, supported by strong customer growth.
FPL's return on equity for regulatory purposes is approximately 11.6% for the 12 months ending June 2025.
NextEra Energy reported a 9.4% year-over-year increase in adjusted earnings per share for Q2 2025 and a 9.1% increase for the first six months of 2025.
Wind resource was weaker at 97% of long-term average compared to 104% in Q2 2024, impacting existing clean energy portfolio earnings.
Baker Hughes delivered strong Q2 2025 results with adjusted EBITDA rising to $1.21 billion, a 7% year-over-year increase, and margins improving by 170 basis points year-over-year.
Free cash flow generated was $239 million, with $423 million returned to shareholders including $196 million in share repurchases.
GAAP diluted EPS was $0.71, and adjusted EPS was $0.63, up 11% year-over-year.
IET orders totaled $3.5 billion in the quarter, with backlog reaching a record $31.3 billion, up 3% sequentially.
IET revenue increased 5% year-over-year to $3.3 billion, with EBITDA growth outpacing revenue at 18% year-over-year.
Industrial & Energy Technology (IET) segment margins expanded by 190 basis points year-over-year to 17.8%, driven by strong order momentum and operational execution.
OFSE revenue increased 3% sequentially to $3.6 billion, with EBITDA margins expanding 90 basis points sequentially to 18.7%.
Oilfield Services & Equipment (OFSE) segment saw a 90 basis points sequential margin improvement with revenue growth in International and Subsea & Surface Pressure Systems.
EBITDA was $94 million, beating guidance of $80 million to $90 million, representing a 24% sequential increase and a 22% EBITDA margin, up 200 basis points quarter-over-quarter and year-over-year.
Expro reported revenue of $423 million in Q2 2025, up $32 million or about 8% from Q1 2025, exceeding guidance of $400 million to $410 million.
Expro repurchased $5 million in shares in Q2, totaling $15 million year-to-date, with $61 million remaining under the $100 million authorization.
Free cash flow on an adjusted basis was $36 million, or 9% of revenue, marking the third consecutive quarter of financial results above expectations.
Liquidity at quarter-end was approximately $343 million, including $207 million cash and $136 million available under revolving credit facility, with new credit facilities increasing total commitments to $500 million.
Segment EBITDA margins: ESSA 30% (up 400 bps), MENA 36% (down 70 bps), APAC 26% (up 500 bps).
Segment revenues: North and Latin America (NLA) $143 million, Europe and Sub-Saharan Africa (ESSA) $132 million, Middle East and North Africa (MENA) $91 million, Asia Pacific (APAC) $57 million.
Dafinchi