Baker Hughes Company Reported Strong Q4 Results
Baker Hughes Company (NASDAQ:BKR) reported its Q4 results, highlighted by margins outperforming expectations in most segments.
Analysts at RBC Capital said they remain encouraged by the company's longer-term leverage to increased global natural gas and LNG demand, which should drive continued FCF in 2022 and onward. In 2022, the analysts anticipate 7% revenue growth alongside 20% adjusted EBITDA growth. The analysts increased their 2022 EBITDA estimate by 3% to $3.22 billion, primarily reflecting stronger operating income margins in TPS.
| Symbol | Price | %chg |
|---|---|---|
| ELSA.JK | 505 | -2.97 |
| SHIP.JK | 1030 | -4.37 |
| SUNI.JK | 505 | 0 |
| CTBN.JK | 1300 | 0 |
Baker Hughes Reports Slight Q4 Miss But Outlook is Strong
Baker Hughes Company (NASDAQ:BKR) reported its Q4 results, with EPS of $0.38 missing the Street estimate of $0.40. Revenue came in at $5.9 billion, worse than the Street estimate of $6.06 billion.
The slight miss was compensated by a bullish outlook, with the company expecting fiscal 2023 revenue to be in the range of $14.5-15.5 billion. EBITDA is expected in the range of $2.4-2.8 billion (16.6-18.1% margin).
Analysts at RBC Capital think the company’s 2023 guidance appears achievable in light of strong orders, increasing global drilling and completion spending, and continued self-help margin initiatives that should bear fruit heading through 2024. The analysts raised their price target to $35 from $33 while maintaining their Outperform rating.
Baker Hughes Reports Slight Q4 Miss But Outlook is Strong
Baker Hughes Company (NASDAQ:BKR) reported its Q4 results, with EPS of $0.38 missing the Street estimate of $0.40. Revenue came in at $5.9 billion, worse than the Street estimate of $6.06 billion.
The slight miss was compensated by a bullish outlook, with the company expecting fiscal 2023 revenue to be in the range of $14.5-15.5 billion. EBITDA is expected in the range of $2.4-2.8 billion (16.6-18.1% margin).
Analysts at RBC Capital think the company’s 2023 guidance appears achievable in light of strong orders, increasing global drilling and completion spending, and continued self-help margin initiatives that should bear fruit heading through 2024. The analysts raised their price target to $35 from $33 while maintaining their Outperform rating.
