• Orders of $5.2 billion for the quarter, down 8% sequentially and up 9% year-over-year on a combined business basis*
  • Revenue of $5.4 billion for the quarter, down 7% sequentially and up 1% year-over-year on a combined business basis
  • GAAP operating loss of $41 million for the quarter, decreased 63% sequentially and increased unfavorably year-over-year on a combined business basis
  • Adjusted operating income (a non-GAAP measure) of $228 million for the quarter, down 20% sequentially and down 19% year-over-year on a combined business basis
  • GAAP diluted earnings per share of $0.17 for the quarter which included $(0.08) per share of adjusting items. Adjusted diluted earnings per share (a non-GAAP measure) were $0.09.
  • Cash flows generated from operating activities were $294 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $226 million. Included in free cash flow is a cash usage of $100 million relating to restructuring and merger-related payments.

Baker Hughes, a GE company (ticker: BHGE), announced Q1 results today.

The company reported delivering $5.2 billion in orders and receiving $5.4 billion in revenue. “As expected, we saw growth in our shorter-cycle businesses and declines in our longer-cycle businesses versus the previous year.  Adjusted operating income* in the quarter was $228 million. Free cash flow* was $226 million,” the company reported.

“The gas market continues to grow, and strong LNG demand supports the view that new capacity will be required in the early to mid-part of the next decade,” said Lorenzo Simonelli, BHGE chairman and chief executive officer.

“In our Oilfield Services (OFS) segment, we continue to focus on growing share in key markets, including North America and the Middle East, through leading technology and services and flawless execution for customers. This quarter, we secured several critical commercial wins, and our synergy efforts led to improved margin rates.”

 


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