Overview
- Adjusted net income rose to $772 million, or 78 cents per share, for the quarter ended Dec. 31 from $694 million, or 70 cents, a year earlier.
- Industrial and energy technology revenue increased 9% to $3.8 billion, contributing just over half of total sales.
- Oilfield services and equipment revenue declined 8% to $3.6 billion as softer oil prices weighed on drilling and completions activity.
- Guidance calls for mid‑single‑digit growth in adjusted EBITDA, with industrial and technology margins advancing toward a 20% target while oilfield margins remain relatively flat.
- The quarter included a $215 million restructuring charge, and the company expects strong orders tied to LNG projects, FPSOs, gas infrastructure and power systems.