Press release
Baker Hughes Company Announces Fourth Quarter and Total Year 2022 Results
Record orders of $8.0 billion for the quarter, up 32% sequentially and up 20% year-over-year Revenue of $5.9 billion for the quarter, up 10% sequentially and
About this update from Baker Hughes Company
[{"type":"text","content":"Record orders of $8.0 billion for the quarter, up 32% sequentially and up 20% year-over-year Revenue of $5.9 billion for the quarter, up 10% sequentially and up 8% year-over-year GAAP operating income of $663 million for the quarter, up $394 million sequentially and up 15% year-over-yearAdjusted operating income (a non-GAAP measure) of $692 million for the quarter, up 38% sequentially and up 21% year-over-year Adjusted EBITDA* (a non-GAAP measure) of $947 million for the quarter, up 25% sequentially and up 12% year-over-year GAAP earnings per share of $0.18 for the quarter which included $0.20 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) was $0.38. Cash flows generated from operating activities were $898 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $657 million. The 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 reconciliations in the section entitled \"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. *Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments. LONDON and HOUSTON, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Baker Hughes Company (Nasdaq: BKR) (\"Baker Hughes\" or the \"Company\") announced results today for the fourth quarter and total year 2022. Three Months Ended Variance(in millions except per share amounts) December 31,2022September 30,2022December 31,2021 SequentialYear-over-yearOrders $8,009 $6,063 $6,656 32%20%Revenue 5,905 5,369 5,485 10%8%Operating income 663 269 574 F15%Adjusted operating income (non-GAAP) 692 503 571 38%21%Adjusted EBITDA (non-GAAP) 947 758 844 25%12%Net income (loss) attributable to Baker Hughes 182 (17) 294 F(38)%Adjusted net income (non-GAAP) attributable to Baker Hughes 381 264 224 44%70%EPS attributable to Class A shareholders 0.18 (0.02) 0.32 F(44)%Adjusted EPS (non-GAAP) attributable to Class A shareholders 0.38 0.26 0.25 45%53%Cash flow from operating activities 898 597 773 50%16%Free cash flow (non-GAAP) 657 417 645 57%2% \"F\"...