Press release
Baker Hughes Company Announces Second Quarter 2022 Results
Orders of $5.9 billion for the quarter, down 14% sequentially and up 15% year-over-year. Revenue of $5.0 billion for the quarter, up 4% sequentially and down
About this update from Baker Hughes Company
[{"type":"text","content":"\n\nOrders of $5.9 billion for the quarter, down 14% sequentially and up 15% year-over-year.\n\n\n\nRevenue of $5.0 billion for the quarter, up 4% sequentially and down 2% year-over-year.\n\n\n\nGAAP operating loss of $25 million for the quarter, down $304 million sequentially and down $219 million year-over-year.\n\n\n\nAdjusted operating income (a non-GAAP measure) of $376 million for the quarter, up 8% sequentially and up 13% year-over-year.\n\n\n\nAdjusted EBITDA* (a non-GAAP measure) of $651 million for the quarter, up 4% sequentially and up 6% year-over-year.\n\n\n\nGAAP loss per share of $(0.84) for the quarter which included $0.95 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) was $0.11.\n\n\n\nCash flows generated from operating activities were $321 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $147 million.\n\n\nThe Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see reconciliations in the section entitled \"Reconciliation of GAAP to non-GAAP Financial Measures.\" Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.\n\n*Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments.\n\n LONDON & HOUSTON--(BUSINESS WIRE)--\nBaker Hughes Company (Nasdaq: BKR) (\"Baker Hughes\" or the \"Company\") announced results today for the second quarter of 2022.\n\n\n\n \n\n\n\n\nThree Months Ended\n\n\n\n\n \n\n\n\nVariance\n\n\n\n\n\n(in millions except per share amounts)\n\n\n\n\nJune 30, 2022\n\n\n\n\nMarch 31, 2022\n\n\n\n\nJune 30, 2021\n\n\n\n\n \n\n\n\nSequential\n\n\n\n \n\n\n\nYear-over-year\n\n\n\n\n\nOrders\n\n\n\n\n$\n\n\n\n5,860\n\n\n\n \n\n\n\n\n$\n\n\n\n6,837\n\n\n\n \n\n\n\n\n$\n\n\n\n5,093\n\n\n\n \n\n\n\n\n \n\n\n\n(14)%\n\n\n\n \n\n\n\n15%\n\n\n\n\n\nRevenue\n\n\n\n\n \n\n\n\n5,047\n\n\n\n \n\n\n\n\n \n\n\n\n4,835\n\n\n\n \n\n\n\n\n \n\n\n\n5,142\n\n\n\n \n\n\n\n\n \n\n\n\n4%\n\n\n\n \n\n\n\n(2)%\n\n\n\n\n\nOperating income (loss)\n\n\n\n\n \n\n\n\n(25\n\n\n\n)\n\n\n\n\n \n\n\n\n279\n\n\n\n \n\n\n\n\n \n\n\n\n194\n\n\n\n \n\...