Baker Hughes Company
Baker Hughes Announces Third-Quarter 2024 Results with Record EBITDA and Strong Orders
Summary
Baker Hughes Company announced its third-quarter 2024 financial results, reporting a 4% year-over-year increase in revenue to $6.9 billion and achieving a record total company EBITDA of $1,208 million, up 23% year-over-year. The company's orders for the quarter were $6.7 billion, with Industrial & Energy Technology (IET) orders at $2.9 billion, marking the eighth consecutive quarter above this level. Net income attributable to Baker Hughes was $766 million, and GAAP diluted earnings per share (EPS) was $0.77. The company also announced a share repurchase program of $152 million during the quarter.
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About Baker Hughes Company
Baker Hughes Company is a global energy technology provider that plays a critical role in the oil and gas sector. The company's primary function is to deliver integrated oilfield products, services, and digital solutions that optimize the development and management of hydrocarbon resources. With a comprehensive portfolio that includes drilling services, completion technologies, and innovative carbon reduction strategies, Baker Hughes serves a diverse range of clients, including oil and gas companies, both onshore and offshore. The company is also at the forefront of advancing cleaner energy technologies, emphasizing innovation in energy efficiency and emission reduction. Founded in 1907 and headquartered in Houston, Texas, Baker Hughes is a pivotal player in the energy market, influencing technology-driven transformations and operational efficiencies throughout the industry. Its integration of advanced data analytics and digital solutions showcases its commitment to enhancing the performance and sustainability of energy production worldwide.
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