Baker Hughes Co. reported Wednesday first-quarter profit and revenue that rose above expectations, amid strength in its oilfield services and equipment...
Baker Hughes Co. BKR reported Wednesday first-quarter profit and revenue that rose above expectations, amid strength in its oilfield services and equipment business. The oil services company’s stock was little changed in the premarket. Net income rose to $576 million, or 57 cents a share, from $72 million, or 8 cents a share. Excluding nonrecurring items, adjusted earnings per share increased to 28 cents from 15 cents and topped the FactSet consensus of 26 cents. Revenue grew 18.2% to $5.
Net income rose to $576 million, or 57 cents a share, from $72 million, or 8 cents a share. Excluding nonrecurring items, adjusted earnings per share increased to 28 cents from 15 cents and topped the FactSet consensus of 26 cents. Revenue grew 18.2% to $5.72 billion, above the FactSet consensus of $5.55 billion. Orders rose 11.6% to $7.63 billion, as oilfield services and equipment orders jumped 25.4% to $4.10 billion and industrial and energy technology orders fell 1% to $3.53 billion.
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