Record Performance and Growth: Baker Hughes reported strong fourth-quarter results, with adjusted earnings per share (EPS) increasing by 37% year-on-year, reaching $0.70, and full-year EPS up 47% to $2.35. Adjusted EBITDA for the fourth quarter reached $1.31 billion, also reflecting a 20% year-over-year growth, signaling robust operational performance.
Strong Order Book and Future Outlook: The company secured $7.5 billion in total orders for Q4 2024, with Industrial and Energy Technology (IET) orders of $3.8 billion, contributing to $28.2 billion in total orders for the full year. For 2025, Baker Hughes anticipates IET orders to be between $12.5 billion and $14.5 billion, with a focus on LNG and gas infrastructure, indicating a positive growth outlook.
Challenges in Oilfield Services: OFSE revenue is expected to decrease slightly in 2025, down by approximately 4% year-on-year, as operators are focusing on capital discipline amid a maturing upstream spending cycle. This may lead to softness in key markets such as North America and the international arena, posing challenges for future growth.