Baker Hughes Q3 2024 Earnings Report
Key Takeaways
Baker Hughes reported a strong third quarter in 2024, achieving record EBITDA and improved margins. The company saw a 4% increase in revenue year-over-year, driven by IET. Attributable net income was $766 million, and adjusted diluted EPS was $0.67. The company remains confident in achieving its full-year EBITDA guidance midpoint.
Orders reached $6.7 billion, including $2.9 billion from IET.
Remaining Performance Obligation (RPO) stood at $33.4 billion, with a record IET RPO of $30.2 billion.
Revenue increased to $6.9 billion, up 4% year-over-year.
Attributable net income was $766 million, with GAAP diluted EPS at $0.77 and adjusted diluted EPS at $0.67.
Baker Hughes
Baker Hughes
Baker Hughes Revenue by Segment
Baker Hughes Revenue by Geographic Location
Forward Guidance
Baker Hughes remains confident in achieving its full-year EBITDA guidance midpoint, supported by solid third-quarter results and a stable outlook.
Positive Outlook
- Exceptional operational performance across both segments.
- Margins continue to improve at an accelerated pace.
- Total company EBITDA margins increasing to 17.5%.
- Orders remain at solid levels.
- Strong order momentum for gas infrastructure and FPSOs.