Baker Hughes Beats Q4 Earnings Estimates, Hikes Quarterly Dividend

Core Insights - Baker Hughes Company (BKR) reported fourth-quarter 2024 adjusted earnings of 70 cents per share, exceeding the Zacks Consensus Estimate of 63 cents and improving from 51 cents a year ago [1][2] - Total quarterly revenues reached $7,364 million, surpassing the Zacks Consensus Estimate of$7,094 million and increasing from $6,835 million in the previous year [2] Dividend Announcement - As of January 31, 2025, Baker Hughes declared a quarterly cash dividend of 23 cents per share, a 10$3,871 million, down 2% from $3,956 million a year ago, and below the estimate of$3,884 million [4] - Operating income from this segment increased to $526 million, up 7$492 million in the fourth quarter of 2023, driven by favorable pricing and efficiency gains [5] - Revenues from the Industrial & Energy Technology unit amounted to $3,492 million, up 21$2,879 million a year ago, exceeding the estimate of $3,223 million [5] - Operating income from this segment rose to$584 million, a 42% increase from $412 million in the previous year, attributed to higher volumes and improved productivity [6] Costs and Expenses - Total costs and expenses for the fourth quarter were$6,699 million, up from $6,183 million a year ago, and higher than the projected$6,134.4 million [7] Orders and Free Cash Flow - Total orders from all business segments reached $7,496 million, a 9$6,904 million, although below the expected $9,753.7 million [8] - Free cash flow generated in the quarter was$894 million, compared to $633 million a year ago [9] Capital Expenditure and Balance Sheet - Net capital expenditure for the fourth quarter was$295 million, with cash and cash equivalents of $3,364 million as of December 31, 2024 [11] - Long-term debt stood at$5,970 million, resulting in a debt-to-capitalization ratio of 26.1% [11]