Baker Hughes said 2024 revenue was $27.8 billion, an increase of $2.3 billion or 9% compared to 2023 revenue of $25.5 billion, and operating income was $3.1 billion, an increase of $0.8 billion. The company said the revenue increase was driven principally by IET.

10-KAnnual reportFiled Feb 4, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 10, 2026

Key points

AI summary

Baker Hughes said 2024 revenue was $27.8 billion, an increase of $2.3 billion or 9% compared to 2023 revenue of $25.5 billion, and operating income was $3.1 billion, an increase of $0.8 billion. The company said the revenue increase was driven principally by IET.
Baker Hughes said OFSE revenue was $15,628 million, an increase of 2%, and IET revenue was $12,201 million, an increase of 20%, with segment operating income of $1,988 million for OFSE and $1,830 million for IET.
The company said cash flows from operating activities in 2024 were $3,332 million, and it paid dividends of $836 million and repurchased 15.2 million shares of Class A common stock for $484 million. The company said total cash returned to shareholders for the year was $1.3 billion.
Baker Hughes said as of December 31, 2024 cash and cash equivalents were $3.4 billion, and there were no borrowings under its $3 billion committed unsecured revolving credit facility maturing in November 2028. The company said its next debt maturity is December 2026.

Key figures

Fiscal year ended December 31, 2024

Revenue: $27.8B
Operating income: $3.1B
Net income: $3.0B
EPS: $2.98
Operating cash flow: $3.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Annual revenue $27.8 billion, operating income $3.1 billion

Baker Hughes said 2024 revenue was $27.8 billion, an increase of $2.3 billion or 9% compared to 2023 revenue of $25.5 billion, and operating income was $3.1 billion, an increase of $0.8 billion. The company said the revenue increase was driven principally by IET.

Source · Based on the MD&A text of the filing

Segment revenue and operating income reported by the company

Baker Hughes said OFSE revenue was $15,628 million, an increase of 2%, and IET revenue was $12,201 million, an increase of 20%, with segment operating income of $1,988 million for OFSE and $1,830 million for IET.

Source · Based on the MD&A text of the filing

Operating cash flow and shareholder returns

The company said cash flows from operating activities in 2024 were $3,332 million, and it paid dividends of $836 million and repurchased 15.2 million shares of Class A common stock for $484 million. The company said total cash returned to shareholders for the year was $1.3 billion.

Source · Based on the MD&A text of the filing

Cash at end of 2024 and $3 billion credit facility

Baker Hughes said as of December 31, 2024 cash and cash equivalents were $3.4 billion, and there were no borrowings under its $3 billion committed unsecured revolving credit facility maturing in November 2028. The company said its next debt maturity is December 2026.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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