Press release
Baker Hughes Company Announces Third Quarter 2021 Results
Orders of $5.4 billion for the quarter, up 6% sequentially and up 5% year-over-year. Revenue of $5.1 billion for the quarter, down 1% sequentially and up 1%
About this update from Baker Hughes Company
[{"type":"text","content":"\n\nOrders of $5.4 billion for the quarter, up 6% sequentially and up 5% year-over-year.\n\n\nRevenue of $5.1 billion for the quarter, down 1% sequentially and up 1% year-over-year.\n\n\nGAAP operating income of $378 million for the quarter, up 95% sequentially and favorable year-over-year.\n\n\nAdjusted operating income (a non-GAAP measure) of $402 million for the quarter was up 21% sequentially and up 72% year-over-year.\n\n\nAdjusted EBITDA* (a non-GAAP measure) of $664 million for the quarter was up 9% sequentially and up 21% year-over-year.\n\n\nGAAP earnings per share of $0.01 for the quarter which included $0.15 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) was $0.16.\n\n\nCash flows generated from operating activities were $416 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $305 million.\n\n\nThe Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see reconciliations in the section entitled \"Reconciliation of GAAP to non-GAAP Financial Measures.\" Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.\n\n*Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments.\n\n LONDON & HOUSTON--(BUSINESS WIRE)--\nBaker Hughes Company (NYSE: BKR) (\"Baker Hughes\" or the \"Company\") announced results today for the third quarter of 2021.\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\nVariance\n\n\n\n\n\n(in millions except per share amounts)\n\n\n\nSeptember 30,\n2021\n\n\n\nJune 30,\n2021\n\n\n\nSeptember 30,\n2020\n\n\n\nSequential\n\n\n\nYear-over-\nyear\n\n\n\n\n\nOrders\n\n\n\n$\n\n\n\n5,378\n\n\n\n \n\n\n\n$\n\n\n\n5,093\n\n\n\n \n\n\n\n$\n\n\n\n5,106\n\n\n\n \n\n\n\n6\n\n\n\n%\n\n\n\n5\n\n\n\n%\n\n\n\n\n\nRevenue\n\n\n\n5,093\n\n\n\n \n\n\n\n5,142\n\n\n\n \n\n\n\n5,049\n\n\n\n \n\n\n\n(1\n\n\n\n)%\n\n\n\n1\n\n\n\n%\n\n\n\n\n\nOperating income (loss)\n\n\n\n378\n\n\n\n \n\n\n\n194\n\n\n\n \n\n\n\n(49\n\n\n\n)\n\n\n\n95\n\n\n\n%\n\n\n\nF\n\n\n \n\n\n\nAdjusted operating income (non-GAAP)\n\n\n\n402\n\n\n\n \n\n\n\n333\n\n\n\n \n\n\n\n234\n\n\n\...