Baker Hughes books 10.8 billion dollars in quarterly orders
Baker Hughes reported 10.8 billion dollars in third-quarter orders, including major demand for its industrial and energy technology business. New power equipment contracts covered computing infrastructure and data centre projects. The energy equipment supplier also reported its first quarter with Chart Industries inside the group, alongside revenue of 8 billion dollars. Operating cash generation exceeded 1 billion dollars.
Economics & Markets··Morning
Industrial and energy technology orders reach 5.9 billion dollars
Baker Hughes, the energy and industrial equipment supplier, reported third-quarter results on 27 October. Adjusted earnings were 0.70 dollars per share, and its Industrial and Energy Technology business booked 5.9 billion dollars in orders, its second-highest quarterly total.[1], [2]
Total orders across the company reached 10.8 billion dollars. Remaining contractual performance obligations amounted to 46.4 billion dollars, including 39.4 billion dollars in Industrial and Energy Technology. Revenue was 8 billion dollars and attributable net income was 411 million dollars.[1]
New power contracts cover computing infrastructure
A US technology company ordered 1.1 gigawatts of power generation equipment for advanced computing infrastructure. The order includes 43 gas turbine packages. A separate US energy company placed an order for approximately 500 megawatts for data centre projects, including 18 turbine packages. Management also highlighted contributions from international markets, particularly the Middle East, in its oilfield services and equipment business.[1]
Chart joins the group as quarterly cash exceeds 1 billion dollars
The company confirmed completion of its all-cash acquisition of Chart Industries and discussed its first quarter within the group. Operating cash generation reached 1.005 billion dollars, while company-defined free cash flow was 769 million dollars. Diluted earnings under generally accepted accounting principles were 0.41 dollars per share. Adjusted earnings before interest, tax, depreciation and amortisation totalled 1.415 billion dollars.[1]
