Baker Hughes: 4Q orders reach 3-year high. Revenue, adjusted income rise

Oilfield services giant Baker Hughes GE posted an increase in orders, revenue, and adjusted net income for the fourth quarter of 2018.

The company’s 4Q revenue came in in at $6.3 billion, up from $5.8 billion, boosted by its oilfield services business which generated $3,06 billion in revenue.

Overall, revenue was up 8 percent. Oilfield Services was up 10%, Oilfield Equipment was up 12% and Turbomachinery & Process Solutions was up 8%, partially offset by Digital Solutions down 4%.

Adjusted net income attributable to BHGE was 120 million, an increase of 85% over the fourth quarter of 2017 when it reported adjusted net income of $65 million.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.