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Baker Hughes rides wave of energy uncertainty
April 27, 2025
|Sunday Express
BAKER HUGHES is one of the world’s largest energy services firms. Despite a sticky time for customers in the oil industry, its broad offering means it can still benefit from accelerating growth in energy consumption.
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First-quarter revenue was flat at $6.4billion (£4.8billion), but underlying cash profit (EBITDA) advanced by 10% to $1bn (£751m), which was towards the top end of guidance.
Sales growth in the Oilfield Services & Equipment (OFSE) division remains hard to come by. With oil prices close to four-year lows, incentives to drill new wells are limited.
It’s a dynamic the firm is handling well, managing to improve first-quarter margins in the division off a lower revenue base.
The ever-changing tariff picture adds increased uncertainty.
هذه القصة من طبعة April 27, 2025 من Sunday Express.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
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