Baker Hughes Company
Baker Hughes Updates Income Statement Presentation
Summary
Baker Hughes Company announced changes to its income statement presentation, including separate reporting of research and development costs and the removal of sub-totals for operating income and non-operating income (loss), effective with the first quarter of 2025 Form 10-Q. These changes, detailed in an unaudited financial supplement, did not affect historically reported financial results. The adjustments were made to comply with Regulation FD and are furnished as Exhibit 99.1.
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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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