Baker Hughes Company

BKR

Equity

ISIN US05722G1004 / Valor 37302591

NASDAQ (2024-12-26)

USD 40.88+0.22%

Baker Hughes Company
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About company

Baker Hughes Company is an energy technology company that provides products and services for onshore and offshore oilfield operations, covering the entire lifecycle of a well from exploration to decommissioning. The company's OFSE segment is organized into four product lines: Well Construction, Completions, Intervention, and Measurements, Production Solutions, and Subsea & Surface Pressure Systems. In addition, the company's IET segment offers Industrial Products solutions for various industries, including petrochemical & refining, nuclear, aviation, automotive, mining, and food & beverage. Baker Hughes Company's diverse portfolio includes non-destructive testing technologies, pre-commissioning and maintenance services, valves and gears for flow and process technologies, instrumentation and sensor-based technologies, and condition monitoring and protection solutions.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

In the third quarter of 2024, Baker Hughes Company reported a revenue of $6.9 billion, marking a 4% increase compared to the same period in the previous year. This growth was primarily driven by the Industrial & Energy Technology (IET) segment, which saw a 9% year-over-year increase in revenue.

Net Income and Earnings Per Share

Baker Hughes Company's net income attributable to the company for the third quarter of 2024 was $766 million, representing a 48% increase from the third quarter of 2023. The GAAP diluted earnings per share (EPS) was $0.77, while the adjusted diluted EPS was $0.67, reflecting a 59% year-over-year increase.

Orders and Backlog

During the third quarter of 2024, Baker Hughes Company secured orders worth $6.7 billion, with $2.9 billion coming from the IET segment. The company's total backlog, or remaining performance obligations (RPO), stood at $33.4 billion, with a record $30.2 billion attributed to the IET segment.

Cash Flow and Shareholder Returns

Baker Hughes Company generated $1,010 million in cash flows from operating activities in the third quarter of 2024, with a free cash flow of $754 million. The company returned $361 million to shareholders, which included $152 million in share repurchases.

Adjusted EBITDA and Operating Income

The adjusted EBITDA for Baker Hughes Company in the third quarter of 2024 was $1,208 million, a 23% increase year-over-year. The operating income for the quarter was $930 million, reflecting a 30% increase compared to the same period in the previous year, driven by higher pricing and structural cost-out initiatives.

Summarized from source with an LLMView Source

Key figures

17.5%1Y

67.4%3Y

59.9%5Y

Performance

27.0%1Y

34.9%3Y

45.0%5Y

Volatility