Baker Hughes Q4 Earnings Miss Estimates

Baker Hughes Co BKR reported fourth-quarter FY22 sales growth of 8% year-on-year, to $5.91 billion, missing the consensus of $6.06 billion.
Orders for the quarter totaled $8 billion, a 20% increase Y/Y.
Operating margin was 11.2%, and operating income for the quarter rose 15% to $663 million.
The company held $2.5 billion in cash and equivalents as of December 31, 2022.
Cash from operating activities amounted to $898 million, and free cash flow was $657 million.
Adjusted EBITDA for the quarter rose 12% Y/Y to $947 million.
Adjusted EPS of $0.38 missed the analyst consensus of $0.40.
"In 2023, the global economy is expected to experience some challenges under the weight of inflationary pressures and tightening monetary conditions," said chairman and CEO Lorenzo Simonelli.
Price Action: BKR shares are trading higher by 1.38% at $31.50 in premarket on the last check Monday.

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