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Jun 30, 2024
Baker Hughes Q2 2024 Earnings Report
Baker Hughes' Q2 2024 results were announced, demonstrating strategic execution and margin expansion.
Key Takeaways
Baker Hughes reported strong second-quarter results with revenue of $7.1 billion, up 13% year-over-year, and net income of $579 million. The company raised its full-year guidance and saw significant order momentum, particularly in IET with a record $3.5 billion in orders.
Orders reached $7.5 billion, including $3.5 billion from IET.
Remaining Performance Obligation (RPO) stood at $33.5 billion, with a record IET RPO of $30.2 billion.
Revenue increased to $7.1 billion, a 13% increase year-over-year.
Adjusted EBITDA increased by 25% year-over-year to $1,130 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Following first-half outperformance, the midpoint of full-year guidance is being raised by 5%, with confidence in driving margins structurally higher over the coming years.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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