Baker Hughes Co (BKR) Jul 2024 Earnings Report
Baker Hughes Company: Investment Report
Overview
Baker Hughes Company is a leading provider of technologies and services to the energy and industrial value chain worldwide. With a market capitalization of $37.82 billion, the company operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The company's portfolio of products and services is diversified, with a strong presence in the oil and gas industry. This report provides an in-depth analysis of the company's financial performance, growth prospects, and recent news and updates.
Core Metrics
- Current price: $37.65
- 52-week high: $37.78
- 52-week low: $28.32
- Market Cap: $37.82 billion
- P/E Ratio: 19.11
- Earnings per Share: $1.97
- 50-day average: $33.65
- 200-day average: $32.80
- Analyst Recommendations: Buy (24 analysts)
Financial Performance
Baker Hughes Company reported strong second-quarter 2024 earnings, with adjusted earnings per share of $0.57, beating the Zacks Consensus Estimate of $0.49. The company's revenue growth rate was 0.13%, with operating cash flow of $2.87 billion and free cash flow of $1.13 billion. The company's EBITDA margin was 15.35%, with a gross margin of 20.69%.
Growth Prospects
Baker Hughes Company has a strong growth potential, driven by its diversified portfolio of products and services, as well as its presence in the growing energy and industrial sectors. The company's focus on innovation and technology is expected to drive growth, with a strong track record of research and development investments.
News and Updates
Recent news articles highlight the company's strong earnings report, with analysts upgrading their earnings estimates. The company's emphasis on sustainability and its commitment to reducing its carbon footprint are also notable.
Upgrades and Downgrades
Benchmark recently reiterated its Buy rating on the stock, while B of A Securities maintained its Buy rating. Piper Sandler also reiterated its Overweight rating on the stock.
Summary
In conclusion, Baker Hughes Company is a strong investment opportunity, driven by its diversified portfolio of products and services, strong financial performance, and growth potential. With a Buy rating from 24 analysts and a strong track record of earnings performance, the company is well-positioned to continue its growth momentum.
Disclosures
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