Primary Vision
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!
No Result
View All Result
Primary Vision
Home Market Trends

Baker Hughes In Q1: TAKE THREE

Avik Chowdhury by Avik Chowdhury
April 24, 2024
in Market Trends
0

Order Booking Shrank But Large Projects Arrived: BKR’s total book-to-bill ratio remained unchanged at 1x in Q1 2024 compared to Q4 2023. It received multi-year awards for onshore and offshore services from Petrobras in Brazil. It will use its advanced rotary steerable service Lucida in three contracts in the US onshore. It received orders for Saudi Arabia’s Master Gas System project (or MGS3) to supply centrifugal compressors. In Canada, it received an order for an electric-driven liquefaction technology solution. It secured three onshore and offshore production orders in Abu Dhabi. Total orders in the IET segment amounted to $2.9 billion in Q1.

In the Climate Technology Solutions (or CTS) business, BKR  received an award from Snam for compression trains driven by hydrogen-ready turbines to support a new gas compressor station in Italy. It also secured a CTS order to refurbish steam turbines and centrifugal compressor trains. Cordant, the company’s digital solutions, received several multi-year awards in the Middle East and Latin America.

Revenue And Margin Weakened In Q1: In the Industrial & Energy Technology segment, revenues decreased by 8% quarter-over-quarter, while operating profit fell by 20%. The revenue visibility is not encouraging either, as order booking decreased by 4% in Q1. The financial results in the Oilfield Services & Equipment segment also weakened in Q1. Order booking declined (6% down) in this segment. Lower revenues from North America and volume decline in Latin America, the Middle East, and Asia caused the financial results to deteriorate.

Despite the setback in Q1 on a quarter-over-quarter basis, the company’s management plans to achieve its full-year guidance as momentum from FY2023 builds into 2024.

Cash Flow Growth; Unchanged Leverage: BKR’s cash flow from operations increased by 70% in Q1 2024 compared to a year ago. Its FCF increased by 2x during this period. Debt-to-equity (0.39x) remained unchanged compared to December 31, 2023. You may read more about the company in our previous article here.

Thanks for reading the BKR Take Three, designed to give you three critical takeaways from BKR’s earnings report.  Soon, we will present a second update on BKR earnings, highlighting its current strategy, news, and notes we extracted from our deeper dive.

Previous Post

Halliburton: Q1 TAKE THREE

Next Post

Market Sentiment Tracker: Some Improvement

Related Posts

Liberty Energy’s Perspective in Q1: KEY Takeaways
Market Trends

Liberty Energy’s Perspective in Q1: KEY Takeaways

May 12, 2025
KLX Energy Services: Q1 TAKE THREE
Market Trends

KLX Energy Services: Q1 TAKE THREE

May 9, 2025
Nine Energy Service: Q1 TAKE THREE
Market Trends

Nine Energy Service: Q1 TAKE THREE

May 8, 2025
ProFrac Holding: Q1 TAKE THREE
Market Trends

ProFrac Holding: Q1 TAKE THREE

May 7, 2025
MST: Is China the Last Growth Pillar Left Standing?
Market Trends

MST: Is China the Last Growth Pillar Left Standing?

May 6, 2025
MMV: How Should We Define Tier 1 in 2025?
Market Trends

MMV: How Should We Define Tier 1 in 2025?

May 5, 2025
Next Post
Market Sentiment Tracker: Some Improvement

Market Sentiment Tracker: Some Improvement

Please login to join discussion

Recent News

Liberty Energy’s Perspective in Q1: KEY Takeaways

Liberty Energy’s Perspective in Q1: KEY Takeaways

May 12, 2025
KLX Energy Services: Q1 TAKE THREE

KLX Energy Services: Q1 TAKE THREE

May 9, 2025
Nine Energy Service: Q1 TAKE THREE

Nine Energy Service: Q1 TAKE THREE

May 8, 2025
ProFrac Holding: Q1 TAKE THREE

ProFrac Holding: Q1 TAKE THREE

May 7, 2025
MST: Is China the Last Growth Pillar Left Standing?

MST: Is China the Last Growth Pillar Left Standing?

May 6, 2025
Primary Vision

Established in 2011, we are renowned for our expert frac data and analytics, providing a rich array of unique indicators and industry commentary.

CONTACT

+1-713-554-4977
info@primaryvision.co

SOCIAL NETWORKS

POLICIES

Privacy Policy
Terms of Use

PARTNERS

Amazon Web Services

TRUSTED SITES

Logo

Logo

RECENT NEWS

Liberty Energy’s Perspective in Q1: KEY Takeaways

Liberty Energy’s Perspective in Q1: KEY Takeaways

May 12, 2025
KLX Energy Services: Q1 TAKE THREE

KLX Energy Services: Q1 TAKE THREE

May 9, 2025
Nine Energy Service: Q1 TAKE THREE

Nine Energy Service: Q1 TAKE THREE

May 8, 2025
ProFrac Holding: Q1 TAKE THREE

ProFrac Holding: Q1 TAKE THREE

May 7, 2025
MST: Is China the Last Growth Pillar Left Standing?

MST: Is China the Last Growth Pillar Left Standing?

May 6, 2025
  • HOME
  • ABOUT US
  • RESEARCH
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!

© 2025 Primary Vision. All rights reserved.

  • HOME
  • ABOUT US
    • ABOUT US
    • PRIMARY VISION AI INNOVATIONS
  • RESEARCH
    • INSIGHTS & ARTICLES
    • FREE ARTICLES
  • EVENTS
  • PRESS
  • SUPPORT
  • FAQ
  • LATEST NEWS
  • LOGIN
  • SIGN UP!
    • FRAC SPREAD COUNT SIGN-UP!
    • ENTERPRISE SUBSCRIPTION PLAN SIGN UP!

© 2025 Primary Vision. All rights reserved.