Baker Hughes reports Q3 EPS 42c, consensus 40c

Reports Q3 revenue $6.64B, consensus $6.53B. Reports Q3 orders $8.51B. “We were pleased with our third quarter results and remain optimistic on the outlook. We maintained strong orders performance in both Industrial & Energy Technology (IET) and Oilfield Services & Equipment (OFSE), with large awards coming from Venture Global in Liquefied Natural Gas (LNG) and Vundefinedr Energi in subsea. We also delivered strong operating results at the upper end of our EBITDA* guidance range, booked almost $100 million of new energy orders and generated $592 million of free cash flow*. We continue to see positive momentum across our portfolio despite persisting global economic uncertainty,” said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.