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Baker Hughes (BKR) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Baker Hughes (BKR - Free Report) reported revenue of $6.32 billion, up 25.1% over the same period last year. EPS came in at $0.39, compared to $0.11 in the year-ago quarter.
The reported revenue represents a surprise of +1.36% over the Zacks Consensus Estimate of $6.23 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +21.88%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Baker Hughes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Orders - Industrial & Energy Technology: $3.28 billion versus $2.43 billion estimated by four analysts on average.
Orders - Total: $7.47 billion versus $6.28 billion estimated by three analysts on average.
Orders - Oilfield Services: $4.19 billion compared to the $3.87 billion average estimate based on three analysts.
Revenue- Oilfield Services & Equipment: $3.88 billion versus the seven-analyst average estimate of $3.73 billion. The reported number represents a year-over-year change of +44.2%.
Revenue- Gas Technology- Services: $658 million versus $710.58 million estimated by two analysts on average.
Revenue- Total Gas Technology: $1.66 billion compared to the $1.19 billion average estimate based on two analysts.
Revenue- Gas Technology- Equipment: $999 million versus the two-analyst average estimate of $1.02 billion.
Segment operating income (loss)- Corporate: -$97 million compared to the -$100.28 million average estimate based on five analysts.
Segment operating income (loss)- Oilfield Services: $417 million versus $401.14 million estimated by five analysts on average.
Shares of Baker Hughes have returned +17.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Baker Hughes (BKR) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Baker Hughes (BKR - Free Report) reported revenue of $6.32 billion, up 25.1% over the same period last year. EPS came in at $0.39, compared to $0.11 in the year-ago quarter.
The reported revenue represents a surprise of +1.36% over the Zacks Consensus Estimate of $6.23 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +21.88%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Baker Hughes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Orders - Industrial & Energy Technology: $3.28 billion versus $2.43 billion estimated by four analysts on average.
- Orders - Total: $7.47 billion versus $6.28 billion estimated by three analysts on average.
- Orders - Oilfield Services: $4.19 billion compared to the $3.87 billion average estimate based on three analysts.
- Revenue- Oilfield Services & Equipment: $3.88 billion versus the seven-analyst average estimate of $3.73 billion. The reported number represents a year-over-year change of +44.2%.
- Revenue- Gas Technology- Services: $658 million versus $710.58 million estimated by two analysts on average.
- Revenue- Total Gas Technology: $1.66 billion compared to the $1.19 billion average estimate based on two analysts.
- Revenue- Gas Technology- Equipment: $999 million versus the two-analyst average estimate of $1.02 billion.
- Segment operating income (loss)- Corporate: -$97 million compared to the -$100.28 million average estimate based on five analysts.
- Segment operating income (loss)- Oilfield Services: $417 million versus $401.14 million estimated by five analysts on average.
View all Key Company Metrics for Baker Hughes here>>>Shares of Baker Hughes have returned +17.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.