Baker Hughes Q4 Profit Lags Estimates On Supply Chain Issues ...Middle East

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Baker Hughes Q4 Profit Lags Estimates On Supply Chain Issues
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Baker Hughes (NASDAQ: BKR) reported on Monday record orders for the fourth quarter, but its earnings came below analyst expectations amid supply-chain and labor shortages. Baker Hughes booked record orders of $8.0 billion for the quarter, up by 32% sequentially and up by 20% compared to the same quarter of 2021, the oilfield services provider said. Revenue also increased, to $5.9 billion for the fourth quarter of 2022, a 10% increase from Q3 and an 8% rise year-over-year. Adjusted earnings per share stood at $0.38, up by 45% from Q3 and 53% from…

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