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Baker Hughes announces Q4 and TY 2017 results

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LNG Industry,


Baker Hughes, a GE company, announced results today for the fourth quarter of 2017 and the total year ended 31 December 2017.

Highlights:

  • Orders of US$5.8 billion for the quarter, up 1% sequentially and down 2% year-over-year on a combined business basis.
  • Revenue of US$5.8 billion for the quarter, up 7% sequentially and down 3% year-over-year on a combined business basis.
  • GAAP operating loss of US$92 million for the quarter, decreased 25% sequentially and increased unfavorably year-over-year on a combined business basis.
  • Adjusted operating income (a non-GAAP measure) of US$303 million for the quarter, up 26% sequentially and down 16% year-over-year on a combined business basis.
  • GAAP net loss per share of US$0.07 for the quarter, which included US$0.22 per share of adjusting items. Adjusted earnings per share (a non-GAAP measure) were US$0.15.
  • Cash flows used in operating activities were US$215 million for the quarter. Free cash flow (a non-GAAP measure) for the quarter was US$367 million. Included in free cash flow is a US$1.2 billion cash usage relating to ending the receivables monetization program.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24012018/baker-hughes-announces-q4-and-ty-2017-results/

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