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 Q2: TAKE THREE

Avik Chowdhury by Avik Chowdhury
July 26, 2024
in Market Trends, Uncategorized
0
Baker Hughes In Q2: TAKE THREE

Order Booking Inflates As Long-Term Projects Arrive: BKR’s total book-to-bill ratio improved to 1.1x in Q2 2024 compared to 1x in Q1. It received a multi-year contract for workover and plug and abandonment services in Brazil. It also received a contract from Petrobras for seabed centrifugal pumping systems. Azerbaijan signed a joint agreement to employ more than 150 electrical submersible pumps and the automated field production solution. In the IET segment, it received a major Gas Technology Equipment contract for SONATRACH’s Hassi R’ Mel gas field. Plus, it signed a ten-year agreement with Woodside Energy to support LNG operations in Australia.

In the Climate Technology Solutions (or CTS) business, BKR  will supply electric-driven compression and power generation in Asia Pacific. During Q2, it received multiple orders for advanced hydrogen, syngas, and CO2 solutions, among other renewable energy projects.

Revenue And Margin Strengthened In Q2: In the Industrial & Energy Technology segment, revenues increased by 19% quarter-over-quarter, while operating profit went up by 34%. The revenue visibility was also encouraging, as order booking increased by 19% in this segment in Q2. The financial results in the Oilfield Services & Equipment segment also strengthened in Q2. Order booking inflated (12% up) in this segment. Volume growth in the Middle East/Asia and Europe/CIS/Sub-Saharan Africa and improved pricing led to improved results in Q2.

As the performance soared in Q2, the company’s management raised the midpoint of its FY2024 guidance by 5%. Its management also expects a structural improvement in operating margin in the coming years.

Cash Flow Declined; Leverage Improved: BKR’s cash flow from operations decreased by 14% in 1H 2024 compared to a year ago. Its FCF decreased by 31% during this period. Debt-to-equity (0.39x) improved slightly compared to December 31, 2023. It repurchased shares worth $166 million in Q2. 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

TechnipFMC: Q2 TAKE THREE

Next Post

NOV: Q2 TAKE THREE

Related Posts

Halliburton’s Perspective in Q1: KEY Takeaways
Market Trends

Halliburton’s Perspective in Q1: KEY Takeaways

May 16, 2025
STEP Energy Services: Q1 TAKE THREE
Market Trends

STEP Energy Services: Q1 TAKE THREE

May 15, 2025
Market Sentiment Tracker: Demand Holds, Cracks Widen
Market Trends

Market Sentiment Tracker: Demand Holds, Cracks Widen

May 14, 2025
Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers
Market Trends

Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers

May 12, 2025
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
Next Post
Nabors: Q2 TAKE THREE

NOV: Q2 TAKE THREE

Please login to join discussion

Recent News

Halliburton’s Perspective in Q1: KEY Takeaways

Halliburton’s Perspective in Q1: KEY Takeaways

May 16, 2025
STEP Energy Services: Q1 TAKE THREE

STEP Energy Services: Q1 TAKE THREE

May 15, 2025
FREE READ: Oil Markets Trying to find direction

FREE READ: Oil Markets Trying to find direction

May 14, 2025
Market Sentiment Tracker: Demand Holds, Cracks Widen

Market Sentiment Tracker: Demand Holds, Cracks Widen

May 14, 2025
Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers

Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers

May 12, 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

Halliburton’s Perspective in Q1: KEY Takeaways

Halliburton’s Perspective in Q1: KEY Takeaways

May 16, 2025
STEP Energy Services: Q1 TAKE THREE

STEP Energy Services: Q1 TAKE THREE

May 15, 2025
FREE READ: Oil Markets Trying to find direction

FREE READ: Oil Markets Trying to find direction

May 14, 2025
Market Sentiment Tracker: Demand Holds, Cracks Widen

Market Sentiment Tracker: Demand Holds, Cracks Widen

May 14, 2025
Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers

Monday Macro View: What is the connection between Frac Job Count and OPEC’s production? Enterprise Subscribers

May 12, 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.