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Sep 30, 2024
Baker Hughes Q3 2024 Earnings Report
Baker Hughes' Q3 2024 performance was marked by record EBITDA and strong operational performance, with significant margin improvements and solid order levels.
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.
Revenue by Segment
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.
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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