NYSE$BKR
Baker Hughes Company · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Baker Hughes announced third quarter results with increased revenue and adjusted operating income.
Baker Hughes reported a mixed Q3 2022, demonstrating strong performance in Oilfield Services (OFS) and order growth, but also facing challenges in Turbomachinery & Process Solutions (TPS). The company is restructuring into two segments, OFSE and IET, to improve focus and execution. They remain positive on the outlook for oil and gas, and anticipate growth in clean energy development due to recent policy changes.
- Orders were up 3% sequentially and 13% year-over-year.
- Revenue increased 6% sequentially and 5% year-over-year.
- GAAP operating income increased sequentially but decreased year-over-year.
- Adjusted EPS was $0.26.
Headline financials
Revenue & EPS history
Baker Hughes · Revenue · Quarterly
$5.37B
Revenue by segment
Baker Hughes · $2.84B total across 1 segment · Q3 2022
- Oilfield Services$2.84B+17.5%100.0%
Forward guidance
Baker Hughes is preparing for various economic scenarios, focusing on factors within their control. They've restructured into OFSE and IET segments to improve focus and profitability. The company aims to capitalize on changing energy markets and increase shareholder value through investments in new energy and long-term growth.
Tailwinds
- Positive outlook for oil and gas with supportive fundamentals for a multi-year upturn in global upstream spending.
- Elevated natural gas and LNG pricing remains constructive for future FIDs.
- Policy movements in Europe and the U.S. are likely to support a significant increase in clean energy development.
- Restructuring designed to simplify operations, enhance profitability, and drive growth.
- Focus on meeting customer needs and producing solutions in the rapidly evolving energy and industrial markets.
Headwinds
- Macro outlook has grown increasingly uncertain due to strong inflationary pressures.
- Rising interest rate environment.
- Sizeable fluctuations in global currencies.
- Key challenges in 2022.
- Dynamic macro backdrop.
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 Q3 2022
+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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