Baker Hughes Co. (NASDAQ: BKR) reported third-quarter earnings and revenue that exceeded analyst expectations, supported by robust order activity and strength in its Industrial & Energy Technology (IET) division.

The oilfield services company posted adjusted earnings per share of $0.68, topping the consensus estimate of $0.62. Revenue rose 1% year-over-year to $7 billion, ahead of expectations of $6.82 billion.

The IET segment secured more than $4 billion in orders — only the third time in company history this milestone has been reached — supported by strong demand in Gas Technology and U.S. land operations.

Adjusted EBITDA rose 2% to $1.24 billion, while operating cash flow totaled $929 million. The company achieved a book-to-bill ratio of 1.2, indicating sustained order momentum. Remaining performance obligations climbed to $35.3 billion, including a record $32.1 billion tied to IET.