Baker Hughes Co (NASDAQ:BKR) reported a fourth-quarter FY23 revenue increase of 16% Y/Y to $6.835 billion, missing the consensus of $6.915 billion.
Orders declined 14% Y/Y to $6.904 billion, but Industrial & Energy Technology (IET) segment orders remained strong, exceeding $3 billion for the fifth consecutive quarter.
Industrial & Energy Technology revenue increased 24% Y/Y to $2.88 billion; operating margin contracted by 190 bps to 14.3%; and EBITDA margin was 16.1%, down 230 bps.
Oilfield Services & Equipment revenue grew 11% Y/Y to $3.96 billion; operating ...