Welcome to our dedicated page for Baker Hughes Co news (Ticker: BKR), a resource for investors and traders seeking the latest updates and insights on Baker Hughes Co stock.
Baker Hughes operates at the intersection of traditional energy production and the global energy transition, making its news flow particularly diverse and multifaceted. Coverage spans oilfield services contract awards, turbomachinery project announcements, technology development milestones, and strategic initiatives across both hydrocarbon and clean energy domains.
Contract and project news represents a significant portion of coverage, with announcements typically involving major oilfield services agreements with national and international oil companies, subsea equipment orders for offshore developments, liquefied natural gas facility awards for liquefaction trains and associated equipment, gas turbine contracts for power generation and industrial applications, compressor supply agreements for pipeline and processing projects, and strategic partnership arrangements with energy and industrial customers. These commercial developments provide visibility into the company's order backlog and future revenue streams across different business segments and geographic regions.
Technology and product development news highlights innovation across the portfolio, including next-generation drilling and completion systems, advanced turbomachinery with improved efficiency and lower emissions, digital platforms for remote monitoring and predictive analytics, carbon capture and hydrogen production technologies, electrification solutions for oil and gas operations, and automation capabilities for drilling and production processes. Product launches and technology qualifications often precede commercial deployment and indicate areas of strategic investment and competitive differentiation.
Energy transition developments have become increasingly prominent in Baker Hughes coverage, with news addressing clean energy project participation, partnerships with renewable energy developers and industrial decarbonization initiatives, carbon capture facility equipment supply, hydrogen compression and liquefaction technologies, geothermal energy applications, and emissions reduction commitments. These announcements reflect the company's positioning beyond traditional oilfield services toward broader energy technology markets.
Strategic corporate actions including acquisitions that expand technology capabilities or market access, divestitures of non-core assets, joint ventures and strategic alliances, organizational restructurings, and capital allocation decisions provide insight into management priorities and portfolio evolution. Quarterly earnings releases and financial guidance updates offer perspective on business segment performance, market conditions, margin trends, and outlook across end markets. Geographic and market segment analysis within financial disclosures reveals relative strength across upstream oilfield services, LNG and industrial gas markets, power generation, and emerging clean energy applications, helping investors assess cyclical exposure and growth drivers across the diversified business model.
Baker Hughes (BKR) reported strong Q4 and full-year 2024 results, with notable achievements in both quarters. Q4 highlights include orders of $7.5 billion, revenue of $7.4 billion (up 8% YoY), and adjusted EBITDA of $1,310 million (up 20% YoY). The company achieved GAAP diluted EPS of $1.18 and adjusted diluted EPS of $0.70.
Full-year 2024 performance showed revenue of $27.8 billion (up 9% YoY), attributable net income of $2,979 million, and adjusted EBITDA of $4,591 million (up 22% YoY). The company returned $1,320 million to shareholders, including $484 million in share repurchases.
Baker Hughes announced a 10% increase in quarterly dividend to $0.23. The Industrial & Energy Technology (IET) segment secured significant LNG and gas infrastructure contracts, while Oilfield Services & Equipment (OFSE) gained notable contracts in Europe and the Middle East.
Baker Hughes (NASDAQ: BKR) has announced a quarterly cash dividend increase of 10% to $0.23 per share of Class A common stock, representing a $0.02 increase compared to the same quarter last year. The dividend will be payable on February 21, 2025, to shareholders of record as of February 11, 2025. The company plans to fund this dividend payment through cash generated from operations.
Baker Hughes (NASDAQ: BKR) has secured a significant order from Tecnicas Reunidas for the third expansion phase of Aramco's Jafurah gas field in Saudi Arabia. The contract, booked in Q4 2024, includes six gas compression trains and six propane compressors, along with balance of plants and auxiliaries.
The company will provide state-of-the-art electric motor driven compression solutions, leveraging its recently expanded Damman Center in Dammam. This order strengthens Baker Hughes' partnership with Aramco, following previous collaborations on the Haradh and Hawiyah gas plants, first phase of Jafurah, and the third phase of Saudi Arabia's Master Gas System project.
Baker Hughes (NASDAQ: BKR) has secured a major contract to provide modularized LNG system and power island solutions to Venture Global (VG) LNG projects in the United States. The company also signed a multi-year services agreement for maintenance, inspection, repairs, and engineering services supporting phases 1 and 2 of VG's Plaquemines LNG project in Louisiana.
As a strategic LNG technology supplier to Venture Global, Baker Hughes has been instrumental in delivering over 100 million tons per annum (MTPA) of production capacity, including comprehensive LNG solutions for both Calcasieu Pass and Plaquemines LNG facilities. The equipment order and services agreement were secured in Q4 2024. Recently, Venture Global achieved a significant milestone with the successful loading and departure of the first LNG cargo from its Plaquemines LNG facility.
Baker Hughes (NASDAQ: BKR) has secured a significant order from Bechtel Energy for gas technology equipment to support Phase 1 of Woodside's Louisiana LNG development. The contract includes equipment for two liquefaction plants with an approximate total capacity of 11 MTPA, part of a larger project with a total permitted capacity of 27.6 MTPA.
The order encompasses eight main refrigeration compressors driven by LM6000PF+ gas turbines and eight expander-compressors. This agreement comes as Woodside targets final investment decision readiness from Q1 2025. Baker Hughes was also previously selected to supply electric-powered Integrated Compressor Line packages and turbomachinery equipment for the associated pipeline serving the LNG export terminal.
Baker Hughes (NASDAQ: BKR) has scheduled its fourth quarter and full-year 2024 earnings announcement for January 30, 2025, at 5 p.m. Eastern Time. The company will release results via press release, followed by a webcast discussion on January 31, 2025, at 9:30 a.m. Eastern Time. Investors can access the webcast through the Baker Hughes investor relations website, where an archived version will also be available after the event.
Baker Hughes (NASDAQ: BKR) has opened new facilities in Walvis Bay, Namibia, including the country's largest liquid mud plant, a cement bulk facility, and an integrated multi-modal facility. The liquid mud plant can hold 15,000 barrels of drilling and completion fluids. Located at Walvis Bay Port, these facilities will support Namibia's offshore oil and gas operations and enhance local employment opportunities. The company has provided training to local workers, NAMCOR personnel, and Ministry of Mines and Energy staff to develop skilled workforce. Baker Hughes has been providing drilling services and subsea operations in Namibia since 2021.
Baker Hughes (NASDAQ: BKR) and SOCAR have signed a contract for an integrated gas recovery and hydrogen sulfide removal system at SOCAR's Heydar Aliyev Oil Refinery in Baku, Azerbaijan. The project aims to reduce downstream flaring and is expected to recover flare gas equivalent to 7 million Nm3 of methane per year, while reducing CO2 emissions by 11,000 tons annually. The recovered gas will be repurposed as fuel within the refinery, improving efficiency and reducing operating costs. The project execution begins immediately with full commissioning targeted within 24 months.
Baker Hughes (NASDAQ: BKR) has secured significant contracts with Petrobras to supply 77 km of flexible pipe systems for Brazil's pre-salt fields. The multi-year project, signed October 15, 2024, includes risers and flowlines for hydrocarbon production and associated gas and water injection, with delivery starting mid-2026. The systems will be deployed across Petrobras' Búzios, Libra, Berbigão, Sururu and Sépia fields, addressing stress-induced corrosion cracking from CO2. The equipment will be manufactured at Baker Hughes' Niteroi plant in Brazil, supporting local employment and the energy supply chain.
Baker Hughes reported strong third-quarter 2024 results, with revenue of $6.9 billion, up 4% year-over-year. Key highlights include:
- Orders of $6.7 billion, including $2.9 billion in IET orders
- Record IET RPO of $30.2 billion
- Net income of $766 million
- Adjusted EBITDA of $1,208 million, up 23% year-over-year
- Free cash flow of $754 million
The company achieved record EBITDA margins of 17.5%, marking the highest margin quarter since formation. Both segments made progress toward 20% EBITDA margins. Baker Hughes remains confident in achieving its full-year EBITDA guidance midpoint based on solid Q3 results and a stable outlook.
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