Categories Earnings, Energy

Earnings Summary: A snapshot of Baker Hughes’ (BKR) Q2 2023 results

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

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