Oilfield services firm Baker Hughes Co (NASDAQ:BKR, XETRA:68V) posted an 11% rise in adjusted profit for the fourth quarter, helped by strong demand for its Industrial & Energy Technology (IET) business, which offset continued weakness in traditional oilfield services.
The company reported adjusted earnings of $0.78 per share for the quarter ended December 31, compared with $0.70 a year earlier, while revenue was flat year-on-year at $7.39 billion.
Net income rose to $876 million, or $0.88 per share on a GAAP basis.
Baker Hughes said strength in its IET segment, which includes turbines, compression and power-related equipment, drove orders and profitability despite softer activity in oilfield services. Fourth-quarter adjusted EBITDA rose 2% to $1.34 billion, while total orders reached $7.9 billion, including $4 billion from IET.
The company ended 2025 with record remaining performance obligations of $35.9 billion, led by a record $32.4 billion in IET, reflecting growing multi-year project exposure. For the full year, Baker Hughes posted revenue of $27.7 billion, adjusted EBITDA of $4.83 billion, up 5%, and total orders of $29.6 billion.
Free cash flow was $1.34 billion in the fourth quarter and a record $2.73 billion for the year, supported by working-capital efficiency and customer down payments, the company said.
Baker Hughes shares were up about 2.3% in premarket trading on Monday.