Oilfield Services Company Baker Hughes Reduces Net Profit by 12 Percent in the First Quarter
The American oilfield services company Baker Hughes Company reported a 12 percent decline in net profit for the first quarter of 2025, while its adjusted earnings increased by 19 percent, exceeding analyst expectations.
From January through March, Baker Hughes posted a net profit of 402 million United States dollars, compared to 455 million United States dollars during the same period the previous year. Earnings per share fell to 0.40 United States dollars, down from 0.45 United States dollars a year earlier.
Earnings per share excluding one-time items rose to 0.51 United States dollars, up from 0.43 United States dollars in the first quarter of 2024. This result surpassed the consensus forecast of 0.47 United States dollars per share, according to analysts surveyed by FactSet.
Quarterly revenue increased by less than 1 percent, reaching 6.43 billion United States dollars. Analysts had, on average, forecast revenue at approximately 6.5 billion United States dollars.
Revenue in Baker Hughes’ Oilfield Services & Equipment segment declined by 8 percent to 3.5 billion United States dollars during the quarter. Meanwhile, revenue in the Industrial & Energy Technology segment rose by 11 percent to 2.93 billion United States dollars.
The company’s total order intake for the first quarter of 2025 decreased by 14 percent compared to the fourth quarter of 2024, amounting to 6.46 billion United States dollars.
Since the beginning of 2025, Baker Hughes’ market capitalization has increased by 16.2 percent.
