Press release
Baker Hughes Company Announces Fourth Quarter and Total Year 2020 Results
Orders of $5.2 billion for the quarter, up 2% sequentially and down 25% year-over-year. Revenue of $5.5 billion for the quarter, up 9% sequentially and down
About this update from Baker Hughes Company
[{"type":"text","content":"\n\nOrders of $5.2 billion for the quarter, up 2% sequentially and down 25% year-over-year.\n\n\nRevenue of $5.5 billion for the quarter, up 9% sequentially and down 13% year-over-year.\n\n\nGAAP operating income of $182 million for the quarter, up $231 million sequentially and down 45% year-over-year.\n\n\nAdjusted operating income (a non-GAAP measure) of $462 million for the quarter, up 98% sequentially and down 15% year-over-year.\n\n\nGAAP diluted earnings per share of $0.91 for the quarter which included $(0.98) per share of adjusting items. Adjusted diluted earnings per share (a non-GAAP measure) were $(0.07).\n\n\nCash flows generated from operating activities were $378 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $250 million.\n\nThe Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see Tables 1a, 1b and 1c in the section entitled \"Charges & Credits\" for a reconciliation of GAAP to non-GAAP financial measures. Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers. \n\n\n LONDON & HOUSTON--(BUSINESS WIRE)--\nBaker Hughes Company (NYSE: BKR) (\"Baker Hughes\" or the \"Company\") announced results today for the fourth quarter and total year 2020.\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\nVariance\n\n\n\n\n\n(in millions except per share amounts)\n\n\n\nDecember 31,\n2020\n\n\n\nSeptember 30,\n2020\n\n\n\nDecember 31,\n2019\n\n\n\n \n\n\n\nSequential\n\n\n\nYear-over-\nyear\n\n\n\n\n\nOrders\n\n\n\n$\n\n\n\n5,188\n\n\n\n \n\n\n\n$\n\n\n\n5,106\n\n\n\n \n\n\n\n$\n\n\n\n6,944\n\n\n\n \n\n\n\n \n\n\n\n2%\n\n\n\n(25)%\n\n\n\n\n\nRevenue\n\n\n\n5,495\n\n\n\n \n\n\n\n5,049\n\n\n\n \n\n\n\n6,347\n\n\n\n \n\n\n\n \n\n\n\n9%\n\n\n\n(13)%\n\n\n\n\n\nOperating income (loss)\n\n\n\n182\n\n\n\n \n\n\n\n(49)\n\n\n\n \n\n\n\n331\n\n\n\n \n\n\n\n \n\n\n\nF\n\n\n\n(45)%\n\n\n\n\n\nAdjusted operating income (non-GAAP)\n\n\n\n462\n\n\n\n \n\n\n\n234\n\n\n\n \n\n\n\n546\n\n\n\n \n\n\n\n \n\n\n\n98%\n\n\n\n(15)%\n\n\n\n\n\nNet income (loss) attributable to Baker Hughes\n\n\n\n653\n\n\n\n \n\n\n\n(170)\n\n\n\n \n\n\n\n48\n\n\n\n \n\n\n\n \n\n\n\nF\n\n\n\nF\n\n\n\n...