Baker Hughes swings to Q4 adjusted profit as revenues, orders rise
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Baker Hughes (NASDAQ:BKR)
+0.8% pre-market after Q4 revenues edged past expectations and total orders surged, while adjusted earnings swung to a profit from a year-earlier loss but missed Wall Street estimates.
The company reported Q4 net income of $294M, compared with $653M a year earlier.

Q4 revenues of $5.5B were flat Y/Y and +8% Q/Q - by segment: Oilfield Services +12% Y/Y to $2.57B, Turbomachinery & Process Solutions -8.7% to $1.78B, Oilfield Equipment -13% to $619M, Digital Solutions flat at $558M.
Orders totaled $6.65B for the quarter, up 28% Y/Y and up 24% Q/Q - by segment: Oilfield Services +13% Y/Y to $2.57B, Turbomachinery & Process Solutions +62% to $2.97B, Oilfield Equipment -9% to $510M, Digital Solutions +14% to $605M.
Baker Hughes' order total was more than $1B higher than analysts expected, according to data compiled by Bloomberg.
"We believe the broader macro recovery should translate into rising energy demand for 2022 and relatively tight supplies for oil and natural gas," the company says.