Baker Hughes Q3 Net Dip 20% Y-o-Y on Less Drilling Revenue


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Baker Hughes Co. said a year-on-year drop of $96 
million in well construction revenue and a $32 million decline in oilfield 
services and equipment sales drove its third quarter net income down 20% from a 
year ago.

   Net income in June to September 2025 stood at $609 million versus the $766 
million reported during the third quarter of last year, Baker Hughes said in 
financial results released Thursday (10/23).

   The company said well construction revenue declined to $954 million from a 
previous $1.05 billion.

   It said orders for oilfield services and equipment were valued at $4.07 
billion for the quarter in review, compared with $3.5 billion in the year-ago 
period. But revenue for the segment only totaled $3.64 billion versus the prior 
$3.96 billion.

   In addition, Baker Hughes reported net charges from special item adjustments 
of around $100 million, which reduced its reported net income.

   The firm said, however, continued to benefit from strong market conditions 
in LNG, power generation and offshore activity that reinforced its growth 
outlook in the IET, or industrial and energy technology, segment.

   "After securing almost $11 billion in orders during the first three 
quarters, and with strong

   visibility on expected awards in the fourth quarter, we now expect full-year 
orders to exceed our prior midpoint," Baker Hughes added.

    

    

    




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