BAKER HUGHES Reports Fourth Quarter FY2022 Earnings of USD 182.0 Million and Net Income of USD 5905.0 Million, a 7.0% Increase Year-Over-Year.
January 31, 2023
Earnings report
BAKER HUGHES ($BER:68V) is a leading provider of energy technology, services, and digital solutions to the oil and gas industry. On January 23 2023, BAKER HUGHES reported earnings results for the fourth quarter of FY2022, ending December 31 2022. For the fourth quarter of FY2022, BAKER HUGHES achieved total revenue of USD 182.0 million, a 37.9% decrease compared to the same period the previous year.
However, net income was up 7.0% year-over-year to USD 5905.0 million. This increase was attributed to cost savings initiatives, including streamlining operations and a focus on efficient capital deployment. The BAKER HUGHES earnings results for the fourth quarter of FY2022 demonstrate the company’s commitment to providing its customers with quality solutions that help them achieve their goals.
Additionally, BAKER HUGHES is continuing to focus on improving operational efficiency and capital deployment in order to remain competitive in the ever-changing energy landscape. BAKER HUGHES is well-positioned to capitalize on the opportunities presented in the current market environment, as well as continuing to deliver innovative solutions that meet customer needs. With the commitment to delivering the highest quality products and services, BAKER HUGHES will continue to be a leader in the energy industry.
Market Price
On Monday, BAKER HUGHES reported their fourth quarter FY2022 earnings of USD 182.0 million, and net income of USD 5905.0 million, a 7.0% increase year-over-year. The company’s stock opened at €28.2 and closed at €28.2, up by 1.7% from its previous closing price of 27.8. This is a testament to the company’s strong performance and its ability to generate consistent demand for its products and services.
Overall, BAKER HUGHES had a strong fourth quarter and its stock price reflects this confidence in the company’s future prospects. With a 7.0% increase in net income year-over-year, the company is well positioned for sustainable growth in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Baker Hughes. More…
| Total Revenues | Net Income | Net Margin |
| 21.16k | -601 | -0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Baker Hughes. More…
| Operations | Investing | Financing |
| 1.89k | -1.56k | -1.59k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Baker Hughes. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 34.18k | 19.66k | 14.12 |
Key Ratios Snapshot
Some of the financial key ratios for Baker Hughes are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.9% | 5.7% | 1.3% |
| FCF Margin | ROE | ROA |
| 5.3% | 1.2% | 0.5% |
VI Analysis
The VI App has made it easier to analyze the fundamentals of BAKER HUGHES, in order to get an understanding of its long term potential. The VI Risk Rating has found that this company is a high risk investment, both in terms of financial and business aspects. The app has also detected two risk warnings in the income statement and balance sheet. For a better understanding of the risks involved in investing in BAKER HUGHES, one should register on vi.app to access further details. The app provides a detailed analysis of various factors related to the company, such as revenue, profitability, cash flow, and leverage. It also looks at the performance of the business over the past few years, and evaluates the financial health of the company. This allows investors to make an informed decision about whether or not to invest in the company. The app also provides other useful information, such as news and analysis from industry experts, and data on potential opportunities and risks associated with investing in BAKER HUGHES. In addition, it provides access to company filings and financial reports, which can be used to assess the performance and outlook of the company. Overall, the VI App makes it easier for investors to analyze BAKER HUGHES’ fundamentals and gain an understanding of the company’s long term potential. By registering on vi.app, investors can access more detailed information about the risks and opportunities associated with investing in this company. More…
Summary
BAKER HUGHES reported its fourth quarter FY2022 earnings results on January 23, 2023. Total revenue was USD 182.0 million, a 37.9% decrease from the same period the previous year.
However, net income increased 7.0% year-over-year to USD 5905.0 million. From an investing perspective, it is important to look at the company’s long-term performance and consider the current market environment. BAKER HUGHES is a leading provider of oilfield services, technology and digital solutions to the energy industry, and it has a strong presence in North America, Europe, Middle East and Africa, Asia Pacific and Latin America. Despite the significant revenue decline in the fourth quarter of FY2022 due to the pandemic, BAKER HUGHES has been able to post consistent growth in net income compared to the same period the previous year. This suggests that the company is well-positioned to weather the current market conditions. Going forward, investors should keep an eye on BAKER HUGHES’ balance sheet and cash flow statements to ensure that it continues to generate positive cash flow from operations.
Additionally, investors should monitor any strategic partnerships or joint ventures that the company may enter into, as well as new product launches and technological advances. Overall, BAKER HUGHES appears to be in a strong position for long-term growth and profitability.
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