NYSE$BKR
Baker Hughes Company · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Baker Hughes announced first quarter 2021 results, reporting a decrease in revenue and a GAAP loss per share, but generated strong free cash flow and continued cost-out efforts.
Baker Hughes reported first quarter 2021 revenue of $4.8 billion, a GAAP loss per share of $(0.61), and adjusted earnings per share of $0.12. The company generated $498 million in free cash flow and saw a decrease in orders and revenue compared to the previous quarter and year-over-year.
- Orders were $4.5 billion, down 12% sequentially and 18% year-over-year.
- Revenue was $4.8 billion, down 13% sequentially and 12% year-over-year.
- GAAP operating income was $164 million, down 10% sequentially but favorable year-over-year.
- Adjusted earnings per share was $0.12.
Headline financials
Revenue & EPS history
Baker Hughes · Revenue · Quarterly
$4.78B
Revenue by segment
Baker Hughes · $2.2B total across 1 segment · Q1 2021
- Oilfield Services$2.2B-29.9%100.0%
Forward guidance
Baker Hughes anticipates that the global economy and oil demand will recover from the global pandemic, with spending and activity levels gaining momentum through the year, potentially leading to stronger growth in 2022.
Tailwinds
- Global economy and oil demand are expected to recover from the impact of the global pandemic.
- Spending and activity levels are expected to gain momentum through the year.
- The industry is likely to be set up for stronger growth in 2022.
- Baker Hughes is well positioned to benefit from an economic recovery.
- Baker Hughes is focused on executing its strategy.
Headwinds
- Restructuring plans may not be successful and achieve the expected result.
- Continued deterioration of market conditions, whether due to the continued spread of COVID-19 or other events could result in further restructuring costs and impairments.
- The continued spread of the COVID-19 virus and the continuation of the measures to try to contain the virus, such as travel bans and restrictions, quarantines, shelter in place orders, and shutdowns, and the related uncertainties.
- The failure to successfully eliminate dependencies on GE or a failure by GE to supply products and services to us in accordance with applicable contractual terms could have a material effect on our business.
- Worldwide economic conditions and declines in credit availability may have on worldwide economic growth and demand for hydrocarbons; foreign currency exchange fluctuations and changes in the capital markets in locations where we operate; and the impact of government disruptions and sanctions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.5%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.6%
Avg return
30 days after
58%
31 / 53 earnings
Positive
+8.1%
Q3 2013
Best reaction
-11.7%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | +6.7% | +2.4% | |
| Q4 2025 | +4.3% | +3.9% | +20.2% | |
| Q3 2025 | -3.2% | -1.2% | -0.0% | |
| Q2 2025 | -1.0% | -0.9% | +7.5% | |
| Q1 2025 | -6.4% | -5.6% | -4.2% | |
| Q4 2024 | +3.5% | +9.5% | -0.0% | |
| Q3 2024 | +1.5% | +2.9% | +23.1% | |
| Q2 2024 | +7.9% | +9.6% | +0.9% | |
| Q1 2024 | +0.6% | +1.2% | -2.0% | |
| Q4 2023 | -3.0% | -1.6% | -5.7% | |
| Q3 2023 | +1.6% | +1.4% | -1.7% | |
| Q2 2023 | -1.1% | +2.3% | +0.6% | |
| Q1 2023 | +2.0% | +2.3% | -4.5% | |
| Q4 2022 | -3.0% | +0.7% | -3.3% | |
| Q3 2022 | +7.3% | +8.1% | +20.5% | |
| Q2 2022 | -11.7% | -13.5% | -10.8% | |
| Q1 2022 | -10.4% | -16.3% | -6.0% | |
| Q4 2021 | +3.6% | +6.2% | +10.7% | |
| Q3 2021 | -9.7% | -6.4% | -16.1% | |
| Q2 2021 | -0.8% | +4.2% | +1.9% | |
| Q1 2021 | +1.6% | +3.2% | +30.9% | |
| Q4 2020 | -3.1% | -10.0% | +2.2% | |
| Q3 2020 | +6.1% | +2.0% | +33.6% | |
| Q2 2020 | +2.3% | +0.1% | -5.3% | |
| Q1 2020 | +6.4% | +6.7% | +18.6% | |
| Q4 2019 | +1.0% | -3.0% | -9.7% | |
| Q3 2019 | -2.3% | +2.1% | +2.4% | |
| Q2 2019 | +3.1% | -2.9% | -11.5% | |
| Q1 2019 | -9.3% | -7.1% | -18.5% | |
| Q4 2018 | +1.7% | +4.6% | +13.2% | |
| Q3 2018 | +0.4% | -2.0% | -13.1% | |
| Q2 2018 | +2.3% | +4.7% | -2.4% | |
| Q1 2018 | +3.7% | +4.2% | +6.4% | |
| Q4 2017 | -9.8% | -12.3% | -21.7% | |
| Q3 2017 | -5.1% | -9.3% | -6.8% | |
| Q2 2017 | +2.0% | -2.2% | -8.0% | |
| Q1 2017 | +1.4% | +1.2% | -6.5% | |
| Q4 2016 | -0.8% | -0.8% | -6.0% | |
| Q3 2016 | +5.0% | +13.4% | +18.9% | |
| Q2 2016 | +7.4% | +4.8% | +14.2% | |
| Q1 2016 | +4.5% | — | — | |
| Q4 2015 | +6.6% | — | — | |
| Q3 2015 | +4.5% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2015 | -1.9% | — | — | |
| Q4 2014 | +3.1% | — | — | |
| Q3 2014 | -0.9% | — | — | |
| Q2 2014 | -1.5% | — | — | |
| Q1 2014 | +5.9% | — | — | |
| Q4 2013 | +4.9% | — | — | |
| Q3 2013 | +8.1% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | -2.6% | — | — |
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