Baker Hughes Reports Q4 2024 Earnings: $7.36B Revenue, $0.70 EPS Beat Estimates, Net Income $1.18B

Baker Hughes Company ($BKR) reported its fourth-quarter earnings for fiscal year 2024, revealing a revenue of $7.36 billion, surpassing analysts' expectations of $7.07 billion. The company achieved an adjusted earnings per share (EPS) of $0.70, exceeding the forecast of $0.63. Additionally, Baker Hughes reported a net income of $1.18 billion and free cash flow of $894 million. The company noted a year-over-year revenue increase of 7.74% and a 37.25% rise in adjusted EPS. Baker Hughes expressed confidence in reaching its target of a 20% EBITDA margin for its Oilfield Services and Equipment (OFSE) segment this year and aims for Infrastructure and Energy Technology (IET) targets by 2026. The results were bolstered by record orders in liquefied natural gas (LNG) and gas infrastructure, alongside strong margin expansion.