Baker Hughes(US:BKR)2024-10-24 07:41Investment Rating - The report indicates a positive market reaction to Baker Hughes' Q3 2024 performance, with an adjusted net EBITDA of $1.208 billion, aligning with market expectations [1][3]. Core Insights - Baker Hughes is expected to achieve the midpoint of its fiscal year 2024 guidance, projecting revenues between $27.6 billion and $28.4 billion, and adjusted EBITDA between $4.4 billion and $4.65 billion [1]. - The company reported a revenue of $6.9 billion for Q3 2024, slightly below expectations driven by oilfield services, while the adjusted EBITDA margin was 17.5%, meeting market expectations [1][3]. - The oilfield services and equipment segment generated $3.963 billion in revenue, consistent with market expectations, while the industrial and energy technology segment reported $2.945 billion, which was below market expectations despite a 9% year-over-year growth [1][3]. Summary by Segment Oilfield Services & Equipment - Revenue for this segment was $3.963 billion, flat year-over-year, with an operating income of $547 million, reflecting an 18% increase year-over-year [3]. - The EBITDA margin for this segment was reported at 19.3%, indicating strong profitability [3]. Industrial & Energy Technology - Revenue for this segment was $2.945 billion, showing a 9% year-over-year increase but falling short of market expectations [3]. - The EBITDA margin improved to 17.9%, benefiting from increased sales and pricing power [1][3].