Baker Hughes grew fourth quarter revenue by 8% to $7.4bn. A 2% fall in Oilfield Services & Equipment was more than offset by strong growth in the Industrial & Energy Technology (IET) segment, which was driven by sales of Gas Technology equipment.
Underlying cash profit increased 20% to $1.3bn, about 4% ahead of market forecasts. This was driven by IET volume growth as well as cost efficiencies in both divisions.
Free cash flow growth of 41% to $0.9bn, helped by improved cash generation from the business. Net debt stood at $2.7bn.
Over 2024, Baker Hughes returned a total of $1.3bn to shareholders via dividends and share buybacks.
The shares were flat in after-hours trading.
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Baker Hughes key facts
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