Baker Hughes’ fourth-quarter revenue was flat at $7.4bn, beating market expectations by over 4%. Growth of 9% in Industrial & Energy Technology (IET) was driven by demand for gas technology and services. That offset softness in Oilfield Services & Equipment.
Underlying cash profit (EBITDA) was up by 2% to $1.3bn.
Free cash flow leapt from $0.9bn to $1.3bn, driven by timing differences in receipts and payments. Net debt stood at $2.4bn.
At the midpoint of guidance, 2026 revenue is expected to fall slightly to $27.3bn (consensus $28.0bn), with underlying cash profit expected to rise marginally to $4.9bn (consensus: $5.0bn).
The shares were up 3.9% in pre-market trading.
Our view
HL view to follow.
Baker Hughes key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.