Energy technology company Baker Hughes Company (NASDAQ: BKR) released results for the second quarter of 2023, reporting a sharp increase in adjusted profit and revenues.
- The company’s revenue totaled $6.3 billion in the June quarter, which is up 25% from the comparable period of 2022
- The top line benefitted from a 28% year-over-year increase in orders to $7.5 billion
- Net income attributable to the company was $410 million during the three-month period, compared to a loss of $839 million last year
- On a per-share basis, unadjusted earnings were $0.40, which marked an improvement from the $0.84 loss reported last year
- Adjusted profit came in at $0.39 per share in the second quarter, compared to $0.11 per share in the corresponding period of last year
- Second-quarter adjusted EBITDA was $907 million, up 39% year-over-year