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Baker Hughes Company Announces Second Quarter 2021 Results

Baker Hughes Company Announces Second Quarter 2021 Results
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Baker Hughes Company Announces First Quarter 2021 Results

F
“F” is used in most instances when variance is above 100%. Additionally, “U” is used in most instances when variance is below (100)%.
“We are pleased with our first quarter results as we generated strong free cash flow, continued to drive forward our cost-out efforts, and took further meaningful steps in the execution of our strategy. During the quarter, TPS delivered solid orders and operating income while OFS continued to execute cost-out programs to help drive another strong quarter of margin performance. We also advanced our position in the energy transition, investing in strategic areas for growth and entering important partnerships to advance new energy frontiers including hydrogen and carbon capture, utilization and storage. I want to thank our employees for their continued hard work and commitment to safety,” said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer. ....

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Baker Hughes Company Announces Fourth Quarter and Total Year 2020 Results

Baker Hughes Company Announces Fourth Quarter and Total Year 2020 Results
Revenue of $5.5 billion for the quarter, up 9% sequentially and down 13% year-over-year.
GAAP operating income of $182 million for the quarter, up $231 million
sequentially and down 45% year-over-year.
Adjusted operating income (a non-GAAP measure) of $462 million for the quarter, up 98% sequentially and down 15%
year-over-year.
GAAP diluted earnings per share of $0.91 for the quarter which included $(0.98) per share of adjusting items. Adjusted diluted earnings per share (a non-GAAP measure) were $(0.07).
Cash flows generated from operating activities were $378 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was $250 million.
The Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operati ....

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