Baker Hughes Beats on Q3 Revenue and Adjusted EPS, Lifts Full-Year Order Outlook Past $50B
BKR sits 31% above its 52-week low of $44.255 on elevated volume (1.9× avg).
Summary
Baker Hughes beat on both lines: Q3 revenue of $8.03B versus $7.70B consensus and adjusted EPS of $0.70 versus $0.61, with the Chart acquisition driving most of the 14% revenue growth. Orders came in at $10.76B and management raised the full-year IET order outlook to over $50B, citing data center, LNG and gas infrastructure demand. The offset is GAAP: net income attributable fell by a third year over year to $411M, or $0.41 per share, on $143M of Chart intangible amortization and deal costs. Free cash flow was $769M. This follows the 8-K filed minutes earlier with the same revenue and order figures, and comes after the September guidance reset that knocked shares 7% lower. The stock closed at $56.01 on October 26; the beat and the order outlook are the parts that matter against a 19x forward multiple.
At the time of this announcement, BKR was trading at $58.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $58.6B. The 52-week trading range was $44.26 to $70.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.