The oilfield services giant saw its net income decline by more than half from last year despite an increase in orders, driven by oilfield equipment. Revenues for Baker Hughes, a GE Company (BHGE) were $5.62 billion in the first quarter 2019, up four percent from a year ago, according to a company report released today. However, the Houston-based oilfield services company’s net income was $32 million, down more than half of what it was a year ago. “BHGE delivered a solid first quarter against a backdrop of stabilizing global oil and gas markets,” CEO Lorenzo Simonelli said in a company statement. “U.S. rig count dropped slightly less than expected, and international activity remained steady. The LNG market is very active. While the speed of the recovery varies across these markets, we see our company positioned to benefit from multiple growth drivers.” BHGE’s Oilfield Services (OFS) segment saw a 12 […]