Tariff Concerns Weigh on Baker Hughes Outlook

Oilfield service major Baker Hughes is going to be cautious about its financial performance outlook this year, due to “broader macro and trade policy uncertainty,” most likely meaning tariffs, the company said in its first-quarter financial report. Baker Hughes booked net profits of $509 million, which was down from $694 million for the last quarter of 2024 on a GAAP basis, which represented a 27% decline. Cash flow from operating activities was down by 40%, to $709 million from $1.189 billion three months earlier. Free cash flow stood…