Baker Hughes profit misses estimates as LNG equipment demand wanes

Oilfield services provider Baker Hughes Co (BKR.N) missed analysts’ estimates for quarterly profit on Wednesday, hit by lower orders in its business that supplies turbines and compressors to liquefied natural gas (LNG) producers.

Orders in the unit fell 10% year-over-year, with equipment orders dropping 16% and service orders decreasing 4%, amid concerns that demand for LNG will decline this year.

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