Business
Baker Hughes Company Announces Fourth Quarter and Total Year 2019 Results
Orders of $6.9 billion for the quarter, down 11% sequentially and up 1% year-over-year Revenue of $6.3 billion for the quarter, up 8% sequentially and up 1%
About this update from Baker Hughes Company
[{"type":"text","content":"\n\nOrders of $6.9 billion for the quarter, down 11% sequentially and up 1% year-over-year\n\n\nRevenue of $6.3 billion for the quarter, up 8% sequentially and up 1% year-over-year\n\n\nGAAP operating income of $331 million for the quarter, up 11% sequentially and down 13% year-over-year\n\n\nAdjusted operating income (a non-GAAP measure) of $546 million for the quarter, up 30% sequentially and up 10% year-over-year\n\n\nGAAP diluted earnings per share of $0.07 for the quarter which included $0.20 per share of adjusting items. Adjusted diluted earnings per share (a non-GAAP measure) were $0.27.\n\n\nCash flows generated from operating activities were $1,357 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $1,053 million.\n\n\n\nThe Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see Tables 1a, 1b and 1c in the section entitled \"Charges & Credits\" for a reconciliation of GAAP to non-GAAP financial measures. Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.\n\n LONDON & HOUSTON--(BUSINESS WIRE)--\nBaker Hughes Company (NYSE: BKR) (\"Baker Hughes\" or the \"Company\") announced results today for the fourth quarter and total year 2019.\n\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\nVariance\n\n\n\n\n\n(in millions except per share amounts)\n\n\n\nDecember 31,\n2019\n\n\n\nSeptember 30,\n2019\n\n\n\nDecember 31,\n2018\n\n\n\n \n\n\n\nSequential\n\n\n\nYear-over-\nyear\n\n\n\n\n\nOrders\n\n\n\n$\n\n\n\n6,944\n\n\n\n \n\n\n\n$\n\n\n\n7,783\n\n\n\n \n\n\n\n$\n\n\n\n6,884\n\n\n\n \n\n\n\n \n\n\n\n(11)%\n\n\n\n1%\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n6,347\n\n\n\n \n\n\n\n\n5,882\n\n\n\n \n\n\n\n \n\n\n\n6,264\n\n\n\n \n\n\n\n \n\n\n\n8%\n\n\n\n1%\n\n\n\n\n\nOperating income\n\n\n\n \n\n\n\n331\n\n\n\n \n\n\n\n \n\n\n\n297\n\n\n\n \n\n\n\n \n\n\n\n382\n\n\n\n \n\n\n\n \n\n\n\n11%\n\n\n\n(13)%\n\n\n\n\n\nAdjusted operating income (non-GAAP)\n\n\n\n \n\n\n\n546\n\n\n\n \n\n\n\n \n\n\n\n422\n\n\n\n \n\n\n\n \n\n\n\n498\n\n\n\n \n\n\n\n \n\n\n\n30%\n\n\n\n10%\n\n\n\n\n\nNet income attributable to Baker Hughes\n\n\n\n \n\n\n\n48\n\n\n\n \n\n\n\n \n\n\n\n57\n\n\n\n...