Baker Hughes Q1 2024 revenue up 12% to $6.4B; adjusted EPS $0.43 beats prior year

Baker Hughes Co

Orders of $6.5B, including $2.9B in IET; large awards from Aramco Master Gas System 3 and Cedar LNG.
GAAP net income $455M ($0.45 diluted EPS); adjusted diluted EPS of $0.43, up 50% YoY.
Adjusted EBITDA $943M (+21% YoY); free cash flow $502M.
Shareholder returns of $368M, including $158M in share repurchases; quarterly dividend raised to $0.21.
New energy orders totaled $239M in the quarter.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Baker Hughes Co reported the quarter ended March 31, 2024 results: revenue $6.4 billion, net income $455 million, EPS $0.45.

Period: the quarter ended March 31, 2024
Revenue: $6.4 billion
Net income: $455 million
EPS: $0.45
Result: reported results

Exact text from the filing

(EX-99.1) --- Baker Hughes Company Announces First-Quarter 2024 Results First-quarter highlights • Orders of $6.5 billion, including $2.9 billion of IET orders. • Revenue of $6.4 billion, up 12% year-over-year. • Net income attributable to the Company of $455 million. • GAAP diluted EPS of $0.45 and adjusted diluted EPS* of $0.43. • Adjusted EBITDA* of $943

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Source: SEC EDGAR

accession 0001701605-24-000065

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