NYSE$BKR
Baker Hughes Company · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Baker Hughes' Q3 2024 performance was marked by record EBITDA and strong operational performance, with significant margin improvements and solid order levels.
Baker Hughes reported a strong third quarter in 2024, achieving record EBITDA and improved margins. The company saw a 4% increase in revenue year-over-year, driven by IET. Attributable net income was $766 million, and adjusted diluted EPS was $0.67. The company remains confident in achieving its full-year EBITDA guidance midpoint.
- Orders reached $6.7 billion, including $2.9 billion from IET.
- Remaining Performance Obligation (RPO) stood at $33.4 billion, with a record IET RPO of $30.2 billion.
- Revenue increased to $6.9 billion, up 4% year-over-year.
- Attributable net income was $766 million, with GAAP diluted EPS at $0.77 and adjusted diluted EPS at $0.67.
Headline financials
Revenue & EPS history
Baker Hughes · Revenue · Quarterly
$6.91B
Revenue by segment
Baker Hughes · $3.95B total across 1 segment · Q3 2023
- Oilfield Services$3.95B+39.0%100.0%
Forward guidance
Baker Hughes remains confident in achieving its full-year EBITDA guidance midpoint, supported by solid third-quarter results and a stable outlook.
Tailwinds
- Exceptional operational performance across both segments.
- Margins continue to improve at an accelerated pace.
- Total company EBITDA margins increasing to 17.5%.
- Orders remain at solid levels.
- Strong order momentum for gas infrastructure and FPSOs.
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 2024
+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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