Financial Data and Key Metrics - The company achieved a record quarterly EBITDA with a 23% year-over-year increase, reaching approximately $1.21 billion [23] - EBITDA margins improved by 2.7 percentage points year-over-year to 17.5%, the highest since 2017 [3] - Free cash flow for the quarter was $754 million, bringing year-to-date free cash flow to nearly $1.4 billion [4][24] - GAAP diluted earnings per share were $0.77, with adjusted earnings per share at $0.67, a 59% increase compared to the same quarter last year [23] - The adjusted tax rate declined to 26%, with expectations for the year-end tax rate to be slightly below the midpoint of the full-year guidance range [23] Business Segment Performance - Industrial and Energy Technology (IET) orders remained strong at $2.9 billion, driven by FPSO and gas infrastructure orders [26] - IET revenue for the quarter was $2.9 billion, up 9% year-over-year, with EBITDA of $528 million, a 31% increase [27] - Oilfield Services & Equipment (OFSE) revenue was $4 billion, with EBITDA of $765 million, up 14% year-over-year [28][29] - OFSE EBITDA margins reached 19.3%, up 2.3 percentage points year-over-year, driven by higher pricing and cost efficiencies [29] Market and Strategic Outlook - The company expects global primary energy demand to grow by 10% between now and 2040, driven by population growth and increasing energy intensity in developing countries [9] - Natural gas demand is expected to grow by almost 20% by 2040, with LNG demand increasing by 75% [10] - The company anticipates 800 MTPA of liquefaction capacity by 2030 to meet global LNG demand, with over 200 MTPA currently under construction [11] - The company is focusing on decarbonization technologies, including CCUS, hydrogen, geothermal, and clean power, with new energy orders expected to exceed $1 billion for the first time [6][12] Management Commentary on Operating Environment - The company remains confident in achieving the midpoint of its full-year EBITDA guidance, driven by strong operational performance and margin expansion [4][23] - Management highlighted the shift in customer spending towards global gas and mature fuels, with oil demand fundamentals softening [13] - The company expects global upstream spending in 2025 to be similar to 2024 levels, with a focus on optimizing production from existing assets [14][16] Other Important Information - The company returned $361 million to shareholders in Q3, including $209 million in dividends and $152 million in share repurchases [25] - The company is investing in new technology to extend equipment life and improve efficiency, with over 2,000 upgrade projects executed globally [18][19] - The serviceable equipment base for Gas Technology Services has doubled from 4,400 units in 2000 to 9,000 units in 2023, with expectations for a 20% increase by 2030 [20][21] Q&A Session Summary Question: Global gas infrastructure and IET positioning - The company highlighted the interconnectivity between equipment and services, with recurring service revenue generating 1x to 2x the original equipment revenue over the life cycle [39][40] - LNG service revenue is expected to grow significantly, with the installed base projected to increase by 70% by 2030 [41][42] Question: Margin improvement cadence in IET - The company is confident in achieving a 20% EBITDA margin target in IET by 2026, driven by cost efficiencies, productivity gains, and supply chain improvements [45][47] - Over half of the year-over-year margin improvement is attributed to self-help initiatives, including corporate cost reductions and process improvements [46][47] Question: Revenue growth relative to installed base in Gas Technology Services - Revenue growth is expected to outpace the 20% increase in the installed base by 2030, driven by higher pricing, mix improvement, advanced service solutions, and upgrade opportunities [52][53] Question: IET order outlook for 2024 and 2025 - The company feels confident about achieving the $12.5 billion order target for 2024, with strong momentum in gas infrastructure, FPSO, and new energy orders [57][58] - For 2025, the company expects similar order levels to 2024, with potential growth in LNG FIDs and gas infrastructure projects [59][60] Question: IET revenue rebound in Q4 - The Q3 revenue miss was attributed to timing delays in large projects, with the revenue expected to rebound in Q4 and Q1 [63][64] - The company remains confident in its full-year guidance, with GTE revenue up 33% year-to-date and margins improving significantly [64] Question: IET backlog conversion in 2025 - The company expects robust activity in 2025, with backlog conversion continuing at the same pace as 2024, supported by record RPO levels [68]

LINEA INCO 3Q 2024 Results October 23, 2024 e Baker Hughes Copyright 2024 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is used only for the benefit of Baker Hughes and may not be distributed, transmitted, reproduced, altered, or used for any purpose without the express written consent of Baker Hughes. This presentation (and oral statements made regarding the subjects of this prese ...

Baker Hughes Company (BKR) reported third-quarter 2024 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents. The bottom line also improved from the year-ago level of 42 cents. Total quarterly revenues of $6,908 million missed the Zacks Consensus Estimate of $7,193 million. However, the top line increased from the year-ago quarter's $6,641 million. The strong quarterly earnings were primarily driven by higher operational performance across both segments and improving E ...

Baker Hughes (BKR) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 11.67%. A quarter ago, it was expected that this oilfield services company would post earnings of $0.49 per share when it actually produced earnings of $0.57, delivering a surprise of 16.33%. Over the last four quarte ...

Exhibit 99.1 Baker Hughes Baker Hughes Company Announces Third-Quarter 2024 Results Third-quarter highlights • Orders of $6.7 billion, including $2.9 billion of IET orders. • RPO of $33.4 billion, including record IET RPO of $30.2 billion. • Revenue of $6.9 billion, up 4% year-over-year. • Attributable net income of $766 million. • GAAP diluted EPS of $0.77 and adjusted diluted EPS* of $0.67. • Adjusted EBITDA* of $1,208 million, up 23% year-over-year. • Cash flows from operating activities of $1,010 millio ...

Third-quarter highlights Orders of $6.7 billion, including $2.9 billion of IET orders. RPO of $33.4 billion, including record IET RPO of $30.2 billion. Revenue of $6.9 billion, up 4% year-over-year. Attributable net income of $766 million. GAAP diluted EPS of $0.77 and adjusted diluted EPS* of $0.67. Adjusted EBITDA* of $1,208 million, up 23% year-over-year. Cash flows from operating activities of $1,010 million and free cash flow* of $754 million. Returns to shareholders of $361 million, including $152 mil ...

Baker Hughes Company (BKR) has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days. The Zacks Consensus Estimate for its 2024 earnings per share suggests a year-over-year surge of almost 41%. What's Favoring the BKR Stock? The West Texas Intermediate crude price is hovering around the $70-per-barrel mark, which is highly favorable for exploration and production activities. Solid oil prices will likely pave the way for further rig additions despite a slowdown in drilling activi ...

Baker Hughes Company (BKR) is set to report third-quarter 2024 results on Oct. 22, after the closing bell. In the last reported quarter, the oilfield service provider's adjusted earnings of 57 cents per share beat the Zacks Consensus Estimate of 49 cents, driven by significant contracts in its Oilfield Services & Equipment segment, including major contracts with Petrobras and the State Oil Company of Azerbaijan Republic. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The company bea ...

Gas and nuclear power are set to be a large part of providing energy for decades to come. The best-laid plans of mice and men often go awry, and that's certainly the case with the clean-energy transition. That's not to say it's not happening, but it's taking place slower than many had expected. The future of energy provision still lies in renewable energy. Still, it's becoming increasingly clear that reliable and plentiful energy sources like natural gas and nuclear power also have a significant role to pla ...

Baker Hughes Integrated Compressor Line (ICL) technology to enhance gas swing storage capacity as part of the United Arab Emirates decarbonization strategy Scope includes 10 ICL units to be installed at Margham Gas storage facility in the Emirate of Dubai HOUSTON and LONDON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday its largest order ever of Integrated Compressor Line (ICL) units with Dubai Petroleum Establishment (DPE), for and on behalf o ...