Q4 24 EPS
$0.70
BEAT +11.86%
Est. $0.63
Q4 24 Revenue
$7.36B
BEAT +4.15%
Est. $7.07B
vs S&P Since Q4 24
+18.2%
BEATING MARKET
BKR +43.6% vs S&P +25.4%
Full Year 2024 Results
FY 24 EPS
$2.35
FY 24 Revenue
$27.83B
Market Reaction
Did BKR Beat Earnings? Q4 2024 Results
Baker Hughes closed out 2024 on a strong note, posting Q4 revenue of $7.36 billion, up 7.7% year-over-year and ahead of the $7.07 billion consensus estimate by 4.15%, while adjusted diluted EPS of $0.70 beat the $0.63 consensus by 11.86%. The primary… Read more Baker Hughes closed out 2024 on a strong note, posting Q4 revenue of $7.36 billion, up 7.7% year-over-year and ahead of the $7.07 billion consensus estimate by 4.15%, while adjusted diluted EPS of $0.70 beat the $0.63 consensus by 11.86%. The primary engine behind the outperformance was the Industrial & Energy Technology segment, where revenue climbed 21% year-over-year to $3.49 billion, powered by a 28% surge in Gas Technology revenue as the company executed on a robust LNG project backlog, including major awards from Venture Global and Woodside Energy. IET's operating income jumped 42% to $584 million, with margins expanding 2.4 percentage points to 16.7%. The quarter also highlighted a broader LNG demand tailwind, with new export projects advancing globally. Looking ahead, CEO Lorenzo Simonelli signaled confidence in another year of EBITDA growth in 2025 led by IET, while the company reinforced that conviction with a 10% dividend increase to $0.23 per share quarterly.
Key Takeaways
- • Strong LNG equipment orders and revenue growth driving IET segment up 21% YoY
- • Higher pricing and structural cost-out initiatives improving margins in both segments
- • Gas Technology Equipment revenue up 38% year-over-year
- • OFSE EBITDA margin expansion to 19.5%, approaching 20% target
- • Subsea & Surface Pressure Systems revenue up 23% year-over-year
BKR YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
BKR Revenue by Segment
With YoY comparisons, source: SEC Filings
BKR Revenue by Geography
With YoY comparisons, source: SEC Filings
“2024 proved to be a momentous year for Baker Hughes. We closed out the year with exceptional fourth-quarter results, setting new quarterly and annual records for revenue, free cash flow and our adjusted measures of EPS, EBITDA, and EBITDA margin. Our strategy to drive profitable growth and continuous margin improvement is working. Looking forward, we will continue our journey to transform the Company, and we expect 2025 to demonstrate another strong year of EBITDA growth, led by our IET segment.”
— Lorenzo Simonelli, Q4 2024 Earnings Press Release
BKR Earnings Trends
BKR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BKR EPS Trend
Earnings per share: estimate vs actual
BKR Revenue Trend
Quarterly revenue: estimate vs actual
BKR Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $0.67 | $0.78 | +16.73% | $7.39B | +4.30% |
| FY Full Year | — | $2.60 | — | $27.73B | — |
| Q1 26 BEAT | $0.49 | $0.58 | +17.50% | $6.59B | +4.09% |
| Q3 25 BEAT | $0.62 | $0.68 | +9.78% | $7.01B | +2.63% |
| Q2 25 BEAT | $0.55 | $0.63 | +13.68% | $6.91B | +4.21% |
| Q1 25 BEAT | $0.47 | $0.51 | +7.59% | $6.43B | -1.15% |
| Q4 24 BEAT FY | $0.63 | $0.70 | +11.86% | $7.36B | +4.15% |
| FY Full Year | — | $2.35 | — | $27.83B | — |
| Q3 24 BEAT | $0.61 | $0.67 | +9.84% | $6.91B | -4.27% |
| Q2 24 BEAT | $0.49 | $0.57 | +16.33% | $7.14B | +4.91% |
| Q1 24 BEAT | $0.40 | $0.43 | +7.50% | $6.42B | +0.78% |