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Oilfield service company Baker Hughes posts 11% rise in adjusted quarterly profit
Reuters· 2026-01-25 22:20
Core Insights - Baker Hughes reported an 11% increase in adjusted profit for the fourth quarter, driven by strong demand for its gas technology equipment and services, which compensated for the weakness in its oilfield services [1] Financial Performance - The adjusted profit for the fourth quarter rose by 11%, indicating a positive trend in profitability [1] - The demand for gas technology equipment and services was a significant factor in this profit increase, highlighting a shift in market focus [1] Market Dynamics - The performance in gas technology contrasts with the weakness observed in oilfield services, suggesting a potential area of concern for the oil sector [1] - The overall demand dynamics indicate a growing preference for gas-related technologies over traditional oilfield services [1]