Core Insights - Baker Hughes Company (BKR) reported second-quarter 2025 adjusted earnings of 63 cents per share, exceeding the Zacks Consensus Estimate of 55 cents and improving from 57 cents year-over-year [1] - Total quarterly revenues reached $6,910 million, surpassing the Zacks Consensus Estimate of $6,633 million and increasing from $6,418 million in the same quarter last year [1] - The strong performance was attributed to cost improvements and operational efficiency [1] Segmental Performance - BKR reorganized its operations into two segments: Oilfield Services and Equipment (OFSE) and Industrial and Energy Technology (IET), effective October 1, 2022 [2] - Revenues from the OFSE unit were $3,617 million, a 10% decrease from $4,011 million year-over-year, but above the estimate of $3,569 million [2] - EBITDA from the OFSE segment totaled $677 million, down 5% from $716 million in Q2 2024, impacted by inflation and revenue mix, partially offset by productivity from cost-out initiatives [3] - Revenues from the IET unit amounted to $3,293 million, a 5% increase from $3,128 million year-over-year, exceeding the estimate of $3,038 million [3] - EBITDA from the IET segment was $585 million, an 18% increase from $497 million in the previous year, driven by productivity, positive pricing, and favorable foreign exchange [4] Costs & Expenses - Total costs and expenses for Baker Hughes were $5,943 million in Q2, down from $6,315 million year-over-year, while the projection was $5,033 million [5] Orders - Total orders from all business segments were $7,032 million, a 7% decline from $7,526 million a year ago, with the decrease primarily attributed to lower order intake in the OFSE segment [6] Free Cash Flow - Baker Hughes generated free cash flow of $239 million, compared to $106 million in the same quarter last year [7] Capex & Balance Sheet - Net capital expenditure for BKR in Q2 was $271 million [8] - As of June 30, 2025, BKR had cash and cash equivalents of $3,087 million and long-term debt of $5,968 million, resulting in a debt-to-capitalization ratio of 25.8% [8]

Core Insights - RPC Inc. reported first-quarter 2025 adjusted earnings of 6 cents per share, missing the Zacks Consensus Estimate of 7 cents, and down from 13 cents in the previous year [1] - Total quarterly revenues were $332.9 million, a decrease from $377.8 million year-over-year, but exceeded the Zacks Consensus Estimate of $332 million [1] Financial Performance - The weak quarterly earnings were attributed to flat pressure pumping revenues and a slight decline in performance across other service lines [2] - Total operating profit for the quarter was $12.4 million, down from $32.3 million in the year-ago quarter [4] - Operating profit in the Technical Services segment was $14 million, significantly lower than $31.9 million in the previous year [3] - Operating profit in the Support Services segment was $2.7 million, down from $3.6 million year-over-year [3] Market Conditions - The average domestic rig count was 588, reflecting a 5.6% decrease year-over-year [4] - The average oil price in the quarter was $71.93 per barrel, down 7.1% from the previous year [4] - The average price of natural gas was $4.14 per thousand cubic feet, up 92.6% compared to the same period in 2024 [4] Costs & Expenses - Cost of revenues decreased to $243.9 million from $250.2 million in the prior-year period [5] - Selling, general and administrative expenses rose to $42.5 million, compared to $41.2 million in the year-ago quarter [5] Financial Position - RPC's total capital expenditure was $32.3 million [6] - As of March 31, the company had cash and cash equivalents of $326.7 million and maintained a debt-free balance sheet [6]