Baker Hughes (NASDAQ: BKR) won't be a name that comes to mind in the context of rising global defense budgets. However, the company’s recent earnings report shows why Baker Hughes may have an unrealized advantage as energy infrastructure, digital automation, and drone warfare become increasingly interconnected.
Baker Hughes is best known as a provider of energy and oilfield services. That makes the company’s earnings and stock price sensitive to the price of oil and natural gas. A closer look at the company’s earnings report shows how it continues to transform itself into a technology-driven industrial player.
