BAKU, Azerbaijan, February 3. Baker Hughes has unveiled its Q4 2024 financial results for the Oilfield Services & Equipment (OFSE) segment, reflecting steady operational performance amidst market headwinds, Trend reports.
The segment’s total revenue for the quarter was $3.871 billion, marking a 2% sequential decline and a 2% year-over-year drop.
According to the report, orders for the OFSE segment reached $3.740 billion, slightly down by 2% sequentially and 3% compared to Q4 2023.
Operating income fell to $526 million, a 4% sequential decrease but a 7% year-over-year increase, suggesting improved efficiency and cost management. The operating margin stood at 13.6%, a decline of 0.2 percentage points sequentially but an improvement of 1.1 percentage points compared to the same period last year.
EBITDA for the segment totaled $755 million, showing a modest 1% sequential decline but a solid 7% year-over-year increase. The EBITDA margin improved to 19.5%, up from 17.9% in Q4 2023.
