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Dec 31, 2024
Baker Hughes Q4 2024 Earnings Report
Baker Hughes reported strong Q4 2024 results, marked by increased revenue, adjusted EBITDA, and EPS, driven by growth in the IET segment and structural cost-out initiatives.
Key Takeaways
Baker Hughes announced exceptional fourth-quarter results, with revenue of $7.4 billion, up 8% year-over-year, and adjusted EBITDA of $1.31 billion, up 20% year-over-year. GAAP diluted EPS was $1.18, and adjusted diluted EPS was $0.70. The company's performance was driven by strong LNG orders and gas infrastructure awards within the IET segment, along with progress on margin improvement initiatives.
Orders were $7.5 billion, including $3.8 billion from the IET segment.
Revenue reached $7.4 billion, an 8% increase year-over-year.
GAAP diluted EPS was $1.18, while adjusted diluted EPS was $0.70.
Free cash flow was $894 million for the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Baker Hughes expects another strong year of EBITDA growth in 2025, led by the IET segment, and remains confident in achieving its 20% EBITDA margin targets for OFSE this year and IET in 2026.
Positive Outlook
- Strong LNG orders and gas infrastructure awards supporting IET segment.
- Transformation actions driving margin improvements.
- Confidence in achieving 20% EBITDA margin targets for OFSE and IET.
- Strong progress on the journey toward 20% segment EBITDA margins.
- Commitment to customers, shareholders, and employees.
Challenges Ahead
- Potential impact of worldwide economic conditions and rising inflation.
- Foreign currency exchange fluctuations and changes in capital markets.
- War, military action, terrorist activities or extended periods of international conflict.
- Cybersecurity risks and cyber incidents or attacks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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