Jan 30 (Reuters) - U.S. oilfield technology firm Baker
Hughes ( BKR ) beat Wall Street estimates for fourth-quarter
profit on Thursday, as robust demand for natural gas equipment
and services helped offset weak sales of its drilling gear in
North America.
Oilfield service companies are grappling with lower demand
as extraction technologies get more efficient and higher
supplies deter more drilling by energy companies.
Baker Hughes ( BKR ) said revenue in its oilfield services segment
fell 5% in North America, while it dropped 1% in its
international markets unit.
Larger rivals SLB and Halliburton ( HAL ) earlier
this month flagged a flattish revenue in 2025 as customers
limited their activity and spending due to a glut.
However, orders in Baker Hughes' ( BKR ) gas technology equipment
business jumped 44%, lifting revenue in its industrial and
energy technology (IET) segment to $3.5 billion.
IET booked $3.8 billion of orders in the quarter, supported
by strong LNG orders and another gas infrastructure award, CEO
Lorenzo Simonelli said.
The Houston-based company provides compressors, turbines,
valves and other modular systems to customers for gas
processing.
President Donald Trump earlier this month said the United
States would guarantee supplies of liquefied natural gas to
Europe, even amid worries that the booming export industry could
boost prices of gas for U.S. consumers.
Baker Hughes ( BKR ) posted an adjusted profit of 70 cents per share
for the three months ended Dec. 31, compared with analysts'
average expectation of 63 cents, according to estimates compiled
by LSEG.
(Reporting by Seher Dareen and Mrinalika Roy in Bengaluru;
Editing by Sriraj Kalluvila)