$BKR
Baker Hughes Co

2024 Q3 Form 10-Q Financial Statement

#000170160524000111 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $6.908B $7.139B
YoY Change 4.02% 13.05%
Cost Of Revenue $5.366B $5.649B
YoY Change 1.28% 13.23%
Gross Profit $1.542B $1.490B
YoY Change 14.82% 12.37%
Gross Profit Margin 22.32% 20.87%
Selling, General & Admin $612.0M $643.0M
YoY Change -2.39% -7.48%
% of Gross Profit 39.69% 43.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $278.0M $283.0M
YoY Change 4.12% 2.54%
% of Gross Profit 18.03% 18.99%
Operating Expenses $612.0M $643.0M
YoY Change -2.39% -7.48%
Operating Profit $930.0M $833.0M
YoY Change 30.25% 32.01%
Interest Expense -$55.00M -$47.00M
YoY Change -210.0% -152.22%
% of Operating Profit -5.91% -5.64%
Other Income/Expense, Net $134.0M $38.00M
YoY Change 42.55% 280.0%
Pretax Income $1.009B $824.0M
YoY Change 32.94% 34.2%
Income Tax $235.0M $243.0M
% Of Pretax Income 23.29% 29.49%
Net Earnings $766.0M $579.0M
YoY Change 47.88% 41.22%
Net Earnings / Revenue 11.09% 8.11%
Basic Earnings Per Share
Diluted Earnings Per Share $0.77 $0.58
COMMON SHARES
Basic Shares Outstanding 993.4M shares 998.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.664B $2.284B
YoY Change -37.36% -40.66%
Cash & Equivalents $2.664B $2.284B
Short-Term Investments
Other Short-Term Assets $1.730B $1.469B
YoY Change 16.03% 152.41%
Inventory $5.254B $5.126B
Prepaid Expenses
Receivables $6.920B $7.051B
Other Receivables $0.00 $0.00
Total Short-Term Assets $16.57B $15.93B
YoY Change 2.52% 0.78%
LONG-TERM ASSETS
Property, Plant & Equipment $5.150B $4.951B
YoY Change 8.01% 4.83%
Goodwill $6.167B $6.105B
YoY Change 1.97% 0.51%
Intangibles $3.995B $4.019B
YoY Change -2.66% -2.55%
Long-Term Investments
YoY Change
Other Assets $3.097B $3.107B
YoY Change 3.1% -18.47%
Total Long-Term Assets $20.96B $20.73B
YoY Change 2.81% 2.16%
TOTAL ASSETS
Total Short-Term Assets $16.57B $15.93B
Total Long-Term Assets $20.96B $20.73B
Total Assets $37.53B $36.66B
YoY Change 2.68% 1.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.431B $4.649B
YoY Change 7.47% 11.92%
Accrued Expenses
YoY Change
Deferred Revenue $5.685B $5.506B
YoY Change 9.6% 7.94%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $52.00M $34.00M
YoY Change -93.52% -95.73%
Total Short-Term Liabilities $12.79B $12.59B
YoY Change 0.86% 2.23%
LONG-TERM LIABILITIES
Long-Term Debt $5.984B $5.861B
YoY Change 2.17% 0.24%
Other Long-Term Liabilities $1.268B $1.348B
YoY Change -8.45% -43.6%
Total Long-Term Liabilities $1.268B $1.348B
YoY Change -8.45% -83.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.79B $12.59B
Total Long-Term Liabilities $1.268B $1.348B
Total Liabilities $14.06B $13.93B
YoY Change -0.06% -33.55%
SHAREHOLDERS EQUITY
Retained Earnings -$7.019B -$7.785B
YoY Change -24.18% -20.37%
Common Stock $26.05B $26.34B
YoY Change -5.0% -4.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.19B $15.57B
YoY Change
Total Liabilities & Shareholders Equity $37.53B $36.66B
YoY Change 2.68% 1.56%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $766.0M $579.0M
YoY Change 47.88% 41.22%
Depreciation, Depletion And Amortization $278.0M $283.0M
YoY Change 4.12% 2.54%
Cash From Operating Activities $1.010B $348.0M
YoY Change 24.69% -59.49%
INVESTING ACTIVITIES
Capital Expenditures $300.0M $292.0M
YoY Change 6.76% 5.42%
Acquisitions
YoY Change
Other Investing Activities $31.00M $31.00M
YoY Change -83.85% -66.3%
Cash From Investing Activities -$269.0M -$261.0M
YoY Change 202.25% 41.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -364.0M -502.0M
YoY Change 17.04% 67.33%
NET CHANGE
Cash From Operating Activities 1.010B 348.0M
Cash From Investing Activities -269.0M -261.0M
Cash From Financing Activities -364.0M -502.0M
Net Change In Cash 377.0M -415.0M
YoY Change -8.05% -210.96%
FREE CASH FLOW
Cash From Operating Activities $1.010B $348.0M
Capital Expenditures $300.0M $292.0M
Free Cash Flow $710.0M $56.00M
YoY Change 34.22% -90.38%

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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
614000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1465000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1374000000 usd
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
283000000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
276000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
566000000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
545000000 usd
CY2024Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
5300000000 usd
CY2024Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
14000000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
21000000 usd
CY2023Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
102000000 usd
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
158000000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Inventory Write Down
InventoryWriteDown
15000000 usd
us-gaap Inventory Write Down
InventoryWriteDown
33000000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
96000000 usd
us-gaap Restructuring Charges
RestructuringCharges
152000000 usd
CY2024Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
6000000 usd
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
6000000 usd
CY2024Q2 us-gaap Restructuring Charges
RestructuringCharges
8000000 usd
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
96000000 usd
us-gaap Restructuring Charges
RestructuringCharges
8000000 usd
us-gaap Restructuring Charges
RestructuringCharges
152000000 usd
CY2024Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
12000000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
19000000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
6000000 usd
CY2023Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
6000000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
April 26, 2024

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