Baker Hughes' Q2 boosted by higher LNG activity, international demand [Seeking Alpha]
BAKER HUGHES A GE CO (BHGE)
Last baker hughes a ge co earnings: 7/31 06:45 am
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Source: Seeking Alpha
Baker Hughes (NYSE: BHGE ) pre-market after edging past Q2 earnings and revenue expectations, helped by accelerating activity in liquefied natural gas markets and higher international demand for oilfield services. BHGE says Q2 total revenues rose 8% Y/Y and 7% Q/Q to $5.99B, as revenue from the Oilfield Services segment, which comprises a majority of the company's operations, jumped 13% Y/Y and 9% Q/Q to $3.26B; elsewhere, Oilfield Equipment revenue rose 12% Y/Y but fell 6% Q/Q to $693M, Turbomachinery and Process Solutions added 1% Y/Y and 8% Q/Q to $1.4B, and Digital Solutions fell 5% Y/Y and gained 7% Q/Q to $632M. Orders for the quarter totaled $6.554B, up 15% Q/Q and up 9% Y/Y, boosted by a 32% increase in orders in the Turbomachinery and Process Solutions business, which includes supply of equipment for LNG projects. Q2 cash flows generated from operating activities totaled $593M, while free cash flow was $355M; both results were negative in Q1. See all
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