Baker Hughes gains on Q2 profit beat
BKR•Shares rise after quarterly profit beat
U.S. oilfield services company Baker Hughes' BKR.O shares were up 3.1% at $59.1 premarket.
On Sunday, BKR reported Q2 adjusted profit of 64 cents per share, beating analysts' estimates of 50 cents per share, according to data compiled by LSEG.
Strong orders and higher outlook support the beat
The profit beat was helped by strong demand for LNG equipment, gas infrastructure and power generation projects.
Orders rose 49% from a year earlier to $10.5 billion, including $7.1 billion in orders for its Industrial and Energy Technology segment (IET).
The company raised its 2026 IET and Horizon 2 IET orders forecast to more than $45 billion.
As of the last close, BKR was up 25.7% year to date.
