Baker Hughes reported higher-than-expected profits for Q3, driven by strong international operations and growth in Europe and sub-Saharan Africa.
Baker Hughes reported higher than expected profits for the third quarter of the year on the back of its strong international operations, the company said late on Tuesday. The oilfield services major boasted a 23% year-on-year improvement in earnings before interest, tax, depreciation, and amortization, at $1.2 billion, and a 30% increase in operating profits, at $930 million for the third quarter of the year. Net earnings per share came in at $0.67 apiece, versus analyst expectations of $0.
Our operational discipline and rigor continue to gain traction,” Simonelli said, adding that the company expected to achieve its planned EBITDA for the full year around its midpoint. LNG business growth has been especially beneficial for Baker Hughes as it has for other oilfield service giants.
Oilfield Services Profits Q3 Earnings International Europe LNG EBITDA IET Expectations
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