The company said revenue for 2023 rose to $25.5 billion from $21.2 billion in 2022, an increase of 21%, and income before tax increased by $2,633 million to $2,655 million from $22 million in 2022.

1. 01

   The company said revenue for 2023 rose to $25.5 billion from $21.2 billion in 2022, an increase of 21%, and income before tax increased by $2,633 million to $2,655 million from $22 million in 2022.

2. 02

   Baker Hughes said OFSE revenue for 2023 was $15,361 million, up 16%, and OFSE operating income was $1,746 million; IET revenue was $10,145 million, up 28%, and IET operating income was $1,310 million.

3. 03

   The company said operating cash flow for 2023 was $3,062 million, and it returned a total of $1.3 billion to shareholders through dividends and share repurchases. It also said it repurchased 16.3 million shares for $538 million and retired them.

4. 04

   The company said orders for 2023 were $30.5 billion, and RPO as of December 31, 2023 was $33.5 billion. It also said cash and cash equivalents were $2.6 billion as of the same date, and there were no borrowings under the $3 billion credit facility.

Key figures

Fiscal year ended December 31, 2023

Revenue

$25.5B

Operating income

$2.3B

Net income

$1.9B

EPS

$1.91

Operating cash flow

$3.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.