Baker Hughes Company ( (BKR) ) has released its Q4 earnings. Here is a breakdown of the information Baker Hughes Company presented to its investors.
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Baker Hughes is a global energy technology company that provides innovative solutions to energy and industrial sectors, focusing on safety, efficiency, and sustainability. The company has operations in over 120 countries, leveraging a century of expertise to drive advancements in energy technology.
In its 2024 earnings report, Baker Hughes highlighted a significant year of growth and record-setting financial performance. The company reported increased revenues and profits, driven by strong orders in its Industrial & Energy Technology (IET) segment and strategic cost management initiatives.
Key financial figures for the fourth quarter included a total revenue of $7.4 billion, marking an 8% increase from the previous year, with adjusted EBITDA rising by 20% to $1.31 billion. The company’s free cash flow also surged to $894 million. For the full year, Baker Hughes achieved revenues of $27.8 billion, a 9% increase year-over-year, with a notable 22% increase in adjusted EBITDA.
Strategically, Baker Hughes secured substantial orders in its IET segment, particularly in liquefied natural gas (LNG) projects and gas infrastructure, underscoring the diversity and strength of its portfolio. The company’s commitment to innovation and efficiency was evident in its advancements in digitalization and artificial intelligence within its Oilfield Services & Equipment (OFSE) segment.
Looking ahead, Baker Hughes is optimistic about continued EBITDA growth, particularly led by its IET segment. The company is focused on achieving its margin improvement targets and remains committed to delivering value to its shareholders and stakeholders through strategic execution and innovation.
