Baker Hughes Q2 revenue up 13% YoY to $7.1B; raises FY guidance midpoint 5%

Baker Hughes Co

GAAP EPS $0.58, adjusted EPS $0.57; revenue $7.1B (+13% YoY), adjusted EBITDA $1,130M (+25%).
Orders of $7.5B including record IET orders $3.5B; IET RPO rose to record $30.2B.
Record new energy orders of $445M and large SONATRACH gas-boosting award in Algeria.
Cash flow from ops $348M, free cash flow $106M; returned $375M to shareholders ($166M buybacks, $209M dividends).
Raised full-year 2024 guidance midpoint by 5% on first-half outperformance; confident in structural margin expansion.

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