Buy Or Sell Opportunity • May 14
Now 21% undervalued Over the last 90 days, the stock has risen 6.6% to €55.14. The fair value is estimated to be €69.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period. Buy Or Sell Opportunity • Apr 29
Now 20% undervalued Over the last 90 days, the stock has risen 23% to €58.32. The fair value is estimated to be €73.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 4.6% per annum over the same time period. Declared Dividend • Apr 27
First quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 5th May 2026 Payment date: 15th May 2026 Dividend yield will be 1.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: US$0.94 (vs US$0.41 in 1Q 2025) First quarter 2026 results: EPS: US$0.94 (up from US$0.41 in 1Q 2025). Revenue: US$6.59b (up 2.5% from 1Q 2025). Net income: US$930.0m (up 131% from 1Q 2025). Profit margin: 14% (up from 6.3% in 1Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Apr 24
Baker Hughes Declares Quarterly Cash Dividend, Payable on May 15, 2026 Baker Hughes announced that its Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on May 15, 2026, to holders of record on May 5, 2026. Announcement • Apr 14
Hexagon AB (publ) (OM:HEXA B) entered into an agreement to acquire Waygate Technologies USA, LP from Baker Hughes Company (NasdaqGS:BKR) for $1.5 billion. Hexagon AB (publ) (OM:HEXA B) entered into an agreement to acquire Waygate Technologies USA, LP from Baker Hughes Company (NasdaqGS:BKR) for $1.5 billion on April 13, 2026. The total consideration is to be paid in cash and on a debt-free basis, before customary closing adjustments. Hexagon intends to finance the acquisition with cash and utilisation of existing debt capacity.
In fiscal year 2025, Waygate generated around $630 million in revenue, $83 million EBITDA, and $65 million EBIT.
The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2026.
J.P. Morgan Securities LLC acted as financial advisor for Baker Hughes Company. Announcement • Mar 31
Baker Hughes Company, Annual General Meeting, May 19, 2026 Baker Hughes Company, Annual General Meeting, May 19, 2026. Declared Dividend • Feb 16
Fourth quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 17th February 2026 Payment date: 27th February 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 06
Baker Hughes Declares Quarterly Cash Dividend, Payable on February 27, 2026 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on February 27, 2026, to holders of record on February 17, 2026. Reported Earnings • Jan 26
Full year 2025 earnings released: EPS: US$2.62 (vs US$3.00 in FY 2024) Full year 2025 results: EPS: US$2.62 (down from US$3.00 in FY 2024). Revenue: US$27.7b (flat on FY 2024). Net income: US$2.59b (down 13% from FY 2024). Profit margin: 9.3% (down from 11% in FY 2024). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jan 06
Cactus International Announces Appointment of Stephen Tadlock as CEO, Effective January 1, 2026 Cactus, Inc. announced that Stephen Tadlock, Executive Vice President and Chief Executive Officer of the company's spoolable technologies segment, has been appointed as the Chief Executive Officer of Cactus International, effective January 1, 2026. Announcement • Jan 05
Crane Company (NYSE:CR) completed the acquisition of Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR). Crane Company (NYSE:CR) entered into an agreement to acquire Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR) for approximately $1.2 billion on June 6, 2025. The cash consideration of $1.06 billion is the adjusted value after tax benefits with an estimated net present value of approximately $90 million. Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The purchase of PSI is contingent upon regulatory approvals and customary closing conditions. The transaction is also subject to expiration or termination of all waiting periods under the HSR Act and the antitrust, competition or foreign investment laws. As of September 30, 2025 Crane Company entered into a credit agreement for a term loan facility in an aggregate principal amount of $900 million. The Term Facility will be available to fund the consummation of the acquisition.
The acquisition is currently expected to close at the end of 2025 or early 2026. Evercore acted as financial advisor to Baker Hughes. Jannan Crozier, John Quattrocchi, Tanner Bodine, Kim Sartin, Jessica Greenwald and Lane Morgan of Baker McKenzie acted as legal advisor to Baker Hughes. Calvina Bostick, Chris Carson, Amy Ironmonger, Adam Tejeda, Leann Walsh, Jennifer Thiem, Rikki Sapolich-Krol, Vishal Mehta, Francesco Carloni, Michael Hofmann and Christopher Swallow of K&L Gates LLP with offices in the US, France, China, Japan, Germany, and the United Kingdom acted as legal advisor to Crane Company.
Crane Company (NYSE:CR) completed the acquisition of Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR) on January 5, 2026. Announcement • Jan 02
Cactus Companies, Llc completed the acquisition of 65% stake in Surface Pressure Control Business of Baker Hughes Company (NasdaqGS:BKR). Cactus Companies, Llc agreed to acquire 65% stake in Surface Pressure Control Business of Baker Hughes Company (NasdaqGS:BKR) for approximately $340 million on June 2, 2025. Cactus will purchase a 65% interest in SPC for $344.5 million (on a debt-free, and, except as noted below, cash-free basis) subject to customary purchase price adjustments. Cactus expects to utilize cash on hand (approx.$348 million as of March 31, 2025) and funds from its undrawn $225 million revolving credit facility to fund the up-front consideration. The upfront purchase price of 65% represents a multiple of approximately 6.7x 2024 Transaction Adjusted EBITDA. The completion of the transaction is subject to customary closing conditions, including, among others, the expiration or termination of any applicable waiting period under certain competition laws and the obtainment of all regulatory clearances under such competition laws and regulatory approval. Closing is expected to occur in the second half of 2025.
Piper Sandler & Co. is serving as the exclusive financial advisor to Cactus and Jason Jean and Jared Berg of Bracewell LLP are serving as legal counsel in association with the transaction. Sam Snider and Nathan Mihalik of McDermott Will & Emery LLP acted as legal advisor to Baker Hughes Company.
Cactus Companies, Llc completed the acquisition of 65% stake in Surface Pressure Control Business of Baker Hughes Company (NasdaqGS:BKR) on January 2, 2026. Announcement • Dec 29
Baker Hughes Company to Report Q4, 2025 Results on Jan 25, 2026 Baker Hughes Company announced that they will report Q4, 2025 results at 5:00 PM, US Eastern Standard Time on Jan 25, 2026 Announcement • Nov 24
Ananym Capital Provides Information to Shareholders of Baker Hughes On November 23, 2025, Ananym Capital Management LP announced that it has urging the Baker Hughes Company to spin off its Oilfield Services and Equipment business, argues that this could increase the stock price by ~60%. In addition, Ananym Capital stated that the Company operates in 2 segments Industrial & Energy Technologies, Oilfield Services & Equipment, and stated that the Company has strong historical returns, leading position in LNG turbomachinery (95% global footprint), expected to grow at 10% CAGR through 2030. Further, Ananym Capital stated that the Company highly exposed to commodity price volatility, management has improved earnings mix, exited low-margin ventures, and focused on international markets. Ananym Capital expects to work amicably with management but could become assertive if progress stalls, and the Company is already reviewing capital allocation, cost structure, and operations. Declared Dividend • Oct 27
Third quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 4th November 2025 Payment date: 14th November 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: US$0.62 (vs US$0.77 in 3Q 2024) Third quarter 2025 results: EPS: US$0.62 (down from US$0.77 in 3Q 2024). Revenue: US$7.01b (up 1.5% from 3Q 2024). Net income: US$609.0m (down 21% from 3Q 2024). Profit margin: 8.7% (down from 11% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Energy Services industry in Europe. New Risk • Oct 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Oct 24
Baker Hughes Declares Quarterly Dividend on Class A Common Stock, Payable on November 14, 2025 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on November 14, 2025, to holders of record on November 4, 2025. Announcement • Oct 15
Baker Hughes Company Announces Executive Changes On October 7, 2025, Ganesh Ramaswamy tendered his resignation as Executive Vice President, Industrial & Energy Technology of Baker Hughes Company (the “Company”) in order to pursue another opportunity. The Company thanks Mr. Ramaswamy for his significant contributions to the Company and wishes him success in his future endeavors. Effective October 24, 2025, Maria Claudia Borras, age 56, will assume the role of Executive Vice President, Industrial & Energy Technology on an interim basis in addition to her role as Chief Growth and Experience Officer. Ms. Borras is responsible for driving enterprise growth and enhancing customer experience, leading the commercial, regional and marketing organizations and driving transformation to energize business expansion across the company’s portfolio. Ms. Borras has more than 30 years of experience with Baker Hughes and the energy and energy technology industries. From 2022-2024, she served as Executive Vice President of Oilfield Services & Equipment, and from 2017-2022, she served as Executive Vice President of Oilfield Services. Buy Or Sell Opportunity • Sep 30
Now 20% undervalued Over the last 90 days, the stock has risen 25% to €41.37. The fair value is estimated to be €51.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings are also forecast to grow by 0.2% per annum over the same time period. Announcement • Sep 24
Baker Hughes Company to Report Q3, 2025 Results on Oct 23, 2025 Baker Hughes Company announced that they will report Q3, 2025 results at 5:00 PM, US Eastern Standard Time on Oct 23, 2025 Announcement • Aug 08
Baker Hughes Company (NasdaqGS:BKR) completed the acquisition of Continental Disc Corporation from Tinicum Incorporated and others. Baker Hughes Company (NasdaqGS:BKR) agreed to acquire Continental Disc Corporation from Tinicum Incorporated and others for approximately $540 million on June 16, 2025. The acquisition will be funded with cash on hand. The transaction is subject to completion of all customary conditions and required regulatory approvals. The transaction is expected to close in the fourth quarter of 2025. As per filling of July 23, 2025, the acquisition is expected to close in the third quarter of 2025. Omar Pringle and Mitchell Presser of Morrison & Foerster LLP acted as legal advisor to Continental Disc Corporation, LLC. William Blair & Company, L.L.C. acted as the financial advisor to Continental Disc Corporation, LLC. Jefferies Financial Group Inc. acted as financial advisor to Baker Hughes. Erik Belenky of King & Spalding LLP acted as legal advisor to Baker Hughes in the transaction. Robert W. Baird & Co. acted as financial advisor to Continental Disc Corporation.
Baker Hughes Company (NasdaqGS:BKR) completed the acquisition of Continental Disc Corporation from Tinicum Incorporated and others on August 7, 2025. The acquisition is expected to be immediately accretive to earnings and cash flow per share and Industrial & Energy Technology’s segment margins. Declared Dividend • Jul 28
Second quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 5th August 2025 Payment date: 15th August 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 6.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 23
Second quarter 2025 earnings released: EPS: US$0.71 (vs US$0.58 in 2Q 2024) Second quarter 2025 results: EPS: US$0.71 (up from US$0.58 in 2Q 2024). Revenue: US$6.91b (down 3.2% from 2Q 2024). Net income: US$701.0m (up 21% from 2Q 2024). Profit margin: 10% (up from 8.1% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Energy Services industry in Europe. Announcement • Jul 23
Baker Hughes Company Declares Quarterly Cash Dividend on Class A Common Stock, Payable on August 15, 2025 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on August 15, 2025, to holders of record on August 5, 2025. Announcement • Jun 16
Baker Hughes Company (NasdaqGS:BKR) agreed to acquire Continental Disc Corporation from Tinicum Incorporated and others for approximately $540 million. Baker Hughes Company (NasdaqGS:BKR) agreed to acquire Continental Disc Corporation from Tinicum Incorporated and others for approximately $540 million on June 16, 2025. The acquisition will be funded with cash on hand. The transaction is subject to completion of all customary conditions and required regulatory approvals. The transaction is expected to close in the fourth quarter of 2025. Announcement • Jun 13
Baker Hughes Company to Report Q2, 2025 Results on Jul 22, 2025 Baker Hughes Company announced that they will report Q2, 2025 results at 5:00 PM, US Eastern Standard Time on Jul 22, 2025 Announcement • Jun 10
Crane Company (NYSE:CR) entered into an agreement to acquire Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR) for approximately $1.2 billion. Crane Company (NYSE:CR) entered into an agreement to acquire Precision Sensors & Instrumentation (PSI) Product Line of Baker Hughes Company (NasdaqGS:BKR) for approximately $1.2 billion on June 9, 2025. The cash consideration of $1.06 billion is the adjusted value after tax benefits with an estimated net present value of approximately $90 million. Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The purchase of PSI is contingent upon regulatory approvals and customary closing conditions. The acquisition is currently expected to close at the end of 2025 or early 2026. Evercore acted as financial advisor to Baker Hughes. Declared Dividend • Apr 28
First quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 6th May 2025 Payment date: 16th May 2025 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 23
First quarter 2025 earnings released: EPS: US$0.41 (vs US$0.46 in 1Q 2024) First quarter 2025 results: EPS: US$0.41 (down from US$0.46 in 1Q 2024). Revenue: US$6.43b (flat on 1Q 2024). Net income: US$402.0m (down 12% from 1Q 2024). Profit margin: 6.3% (down from 7.1% in 1Q 2024). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Energy Services industry in Europe. Announcement • Apr 23
Baker Hughes Company Declares Quarterly Cash Dividend, Payable on May 16, 2025 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on May 16, 2025, to holders of record on May 6, 2025. New Risk • Apr 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €31.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 7x in the Energy Services industry in Europe. Negligible returns to shareholders over past year. Simply Wall St's valuation model estimates the intrinsic value at €50.73 per share. Announcement • Apr 01
Baker Hughes Company, Annual General Meeting, May 20, 2025 Baker Hughes Company, Annual General Meeting, May 20, 2025. Announcement • Mar 31
Baker Hughes Company Announces Management Changes Baker Hughes Company announced On March 28, 2025, Lynn L. Elsenhans announced that she will not stand for re-election at Baker Hughes Company's 2025 Annual Meeting of Shareholders. She has served on the company’s Board since 2019, having previously been part of its predecessor entities from 2012-2019. Elsenhans currently chairs the Governance & Corporate Responsibility Committee and is a member of the Human Capital and Compensation Committee. She will continue in her committee roles until May 1, 2025, and remain a director until the 2025 Annual Meeting. Her decision not to seek re-election is not due to any disagreements with the company. The Board expressed gratitude for her contributions. On the same day, the Board elected Ilham Kadri as a director, effective May 1, 2025. The Board size will increase from ten to eleven members at that time. Kadri, 56, is the current CEO of Syensqo S.A. (since December 2023) and was previously the CEO of Solvay S.A. from 2019-2023. She has extensive leadership experience across multiple industries, having worked with companies like Shell, UCB, Huntsman, Dow Chemical, and Sealed Air. Kadri is also a director at A.O. Smith Corporation and L’Oréal S.A. The Board confirmed that Kadri is independent under corporate governance standards and qualifies as an audit committee financial expert. She will serve on the Audit and Human Capital and Compensation Committees. Announcement • Mar 13
Baker Hughes Company to Report Q1, 2025 Results on Apr 22, 2025 Baker Hughes Company announced that they will report Q1, 2025 results at 5:00 PM, US Eastern Standard Time on Apr 22, 2025 Buy Or Sell Opportunity • Mar 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.7% to €38.69. The fair value is estimated to be €49.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.7% per annum. Earnings are also forecast to grow by 3.8% per annum over the same time period. Announcement • Feb 25
Baker Hughes Announces Chief Financial Officer Changes Baker Hughes Company announced that Ahmed Moghal, a highly experienced finance leader who currently serves as chief financial officer (CFO) of Industrial & Energy Technology (IET) business, has been appointed CFO of
the Company, effective immediately. Prior to IET, Moghal held senior positions in various business and corporate roles. In this role, he succeeds Nancy Buese, who, by mutual agreement with the Company, ceased to serve as CFO
effective February 24, 2025. Moghal has served as senior vice president & CFO of the Industrial and Energy Technology business of Baker Hughes since 2023. Prior to this role, he was appointed as the financial planning & analysis leader at the time of the merger of Baker Hughes and GE Oil & Gas in 2017. In his more than two decades of experience, Moghal has worked in several industries globally, driving performance across multiple business models and cycles. He started his career in GE in the Financial Management Program and subsequently Corporate Audit Staff. Declared Dividend • Feb 03
Fourth quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 11th February 2025 Payment date: 21st February 2025 Dividend yield will be 1.8%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 01
Full year 2024 earnings released: EPS: US$3.00 (vs US$1.93 in FY 2023) Full year 2024 results: EPS: US$3.00 (up from US$1.93 in FY 2023). Revenue: US$27.8b (up 9.1% from FY 2023). Net income: US$2.98b (up 53% from FY 2023). Profit margin: 11% (up from 7.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Energy Services industry in Europe. Announcement • Jan 31
Baker Hughes Declares Increased Quarterly Cash Dividend, Payable on February 21, 2025 Baker Hughes announced that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.23 per share of Class A common stock payable on February 21, 2025, to holders of record on February 11, 2025. The dividend reflects a 10% increase, or $0.02, compared to the same quarter last year. Announcement • Dec 12
Baker Hughes Company to Report Q4, 2024 Results on Jan 30, 2025 Baker Hughes Company announced that they will report Q4, 2024 results at 5:00 PM, US Eastern Standard Time on Jan 30, 2025 Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €41.36, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 7x in the Energy Services industry in Europe. Total returns to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €44.23 per share. Declared Dividend • Oct 28
Third quarter dividend of US$0.21 announced Shareholders will receive a dividend of US$0.21. Ex-date: 4th November 2024 Payment date: 14th November 2024 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 3.1% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 25
Baker Hughes Declares Quarterly Cash Dividend, Payable on November 14, 2024 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on November 14, 2024, to holders of record on November 4, 2024. Buy Or Sell Opportunity • Oct 24
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at €33.91. The fair value is estimated to be €43.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 92%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: US$0.77 (vs US$0.51 in 3Q 2023) Third quarter 2024 results: EPS: US$0.77 (up from US$0.51 in 3Q 2023). Revenue: US$6.91b (up 4.0% from 3Q 2023). Net income: US$766.0m (up 48% from 3Q 2023). Profit margin: 11% (up from 7.8% in 3Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Energy Services industry in Europe. Buy Or Sell Opportunity • Oct 09
Now 20% undervalued Over the last 90 days, the stock has risen 8.8% to €34.12. The fair value is estimated to be €42.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. New Risk • Sep 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.2% average weekly change). Announcement • Sep 16
Baker Hughes Company to Report Q3, 2024 Results on Oct 22, 2024 Baker Hughes Company announced that they will report Q3, 2024 results at 5:00 PM, US Eastern Standard Time on Oct 22, 2024 Announcement • Sep 03
Baker Hughes Company Announces Executive Changes, Effective October 1, 2024 Baker Hughes Company announced on September 3, 2024 several changes to its leadership team, effective by October 1, 2024. These changes are designed to continue delivering Baker Hughes’ successful strategy and executing for long-term growth, meeting customer needs in the rapidly evolving energy and industrial segments. Amerino Gatti is appointed as executive vice president (EVP) of Oilfield Services & Equipment (OFSE). Gatti joins Baker Hughes as a seasoned energy and industrial executive, recently serving as chief executive officer and chairman of the board of TEAM Inc. from 2018-2022, as well as serving on the board of directors of Helix Energy Solutions from 2018-2024. Gatti previously spent 25 years in various leadership roles at oilfield services firm Schlumberger. His experience at Schlumberger included serving as president of the production group, president of well services, general manager for Qatar and Yemen; and vice president of production group in North America. Gatti’s deep domain expertise in oil & gas as well as industrial services will be critical to drive further profitability, growth, innovation, and customer satisfaction within OFSE. Maria Claudia Borras, EVP of OFSE since 2022, is appointed as chief growth & experience officer (CGXO). This newly created role will focus on driving enterprise growth and enhancing customer experience, creating and implementing commercial, regional and marketing strategies and leading transformation to energize business expansion across the company’s portfolio. Borras has more than 30 years of proven leadership at Baker Hughes, having previously held positions across the Company’s commercial, operations, and engineering organizations. In addition, Muzzamil Khider Ahmed, SVP and chief people officer since 2023, has been promoted to the executive leadership team as chief people & culture officer. In his new role, Khider Ahmed will continue focusing on strengthening human resources capabilities and systems while shaping the Company’s culture to foster a productive, inclusive, and engaging work environment. He brings more than 20 years of industry experience, including more than 10 years of human resources leadership at Baker Hughes. With these changes, Deanna Jones, EVP of people, communications & transformation and chief human resources officer, will transition into an advisory capacity before departing the Company in 2025. Buy Or Sell Opportunity • Aug 02
Now 22% undervalued Over the last 90 days, the stock has risen 11% to €32.88. The fair value is estimated to be €41.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Declared Dividend • Jul 29
Second quarter dividend of US$0.21 announced Shareholders will receive a dividend of US$0.21. Ex-date: 6th August 2024 Payment date: 16th August 2024 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 3.1% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$0.58 (vs US$0.41 in 2Q 2023) Second quarter 2024 results: EPS: US$0.58 (up from US$0.41 in 2Q 2023). Revenue: US$7.14b (up 13% from 2Q 2023). Net income: US$579.0m (up 41% from 2Q 2023). Profit margin: 8.1% (up from 6.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Energy Services industry in Europe. Announcement • Jul 26
Baker Hughes Company Declares Quarterly Dividend, Payable on Aug. 16, 2024 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on Aug. 16, 2024, to holders of record on Aug. 6, 2024. Announcement • Jun 18
Baker Hughes Company to Report Q2, 2024 Results on Jul 25, 2024 Baker Hughes Company announced that they will report Q2, 2024 results at 5:00 PM, US Eastern Standard Time on Jul 25, 2024 Announcement • May 25
Baker Hughes Company Announces Board Changes On May 22, 2024, the Board of Directors of Baker Hughes Company elected Shirley Edwards to serve as a director of the Company with a term beginning on May 22, 2024. At that time, the size of the Board will be expanded from nine to ten members. Shirley Edwards, age 63, had a 20-year career at EY (formerly Ernst & Young LLP), most recently serving as Global Client Service Partner from 2017 to 2022. Ms. Edwards is currently a board member for Solventum Corp., where she has served since 2024 and for Appian Corp., where she has served since 2022. Ms. Edwards has also served as a board member for Girls Scouts of the Nation’s Capital from 2003 to 2008 and 2014 to 2017, as a board member for Leadership Greater Washington from 2001 to 2008 and on the Pamplin College of Business Advisory Council for Virginia Tech from 2007 to 2022. Ms. Edwards holds a B.S. in Accounting from Virginia Tech and is a licensed CPA. On May 22, 2024, the Board of Directors elected Lorenzo Simonelli as Chairman of the Board and W. Geoffrey Beattie as Lead Director. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: US$0.46 (vs US$0.57 in 1Q 2023) First quarter 2024 results: EPS: US$0.46 (down from US$0.57 in 1Q 2023). Revenue: US$6.42b (up 12% from 1Q 2023). Net income: US$455.0m (down 21% from 1Q 2023). Profit margin: 7.1% (down from 10% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Energy Services industry in Europe. Announcement • Apr 24
Baker Hughes Company Declares Quarterly Dividend, Payable on May 16, 2024 Baker Hughes announced that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on May 16, 2024, to holders of record on May 6, 2024. Announcement • Apr 03
Baker Hughes Company, Annual General Meeting, May 13, 2024 Baker Hughes Company, Annual General Meeting, May 13, 2024, at 08:00 Central Daylight. Agenda: To consider the election of directors; to consider an advisory vote related to the Company's executive compensation program; to consider the ratification of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2024; to consider amendment and Restatement of the Certificate of Incorporation to limit the liability of certain officers of the Company; and to consider any other matter thereof. Announcement • Mar 15
Baker Hughes Company to Report Q1, 2024 Results on Apr 23, 2024 Baker Hughes Company announced that they will report Q1, 2024 results at 5:00 PM, US Eastern Standard Time on Apr 23, 2024 New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (3.9% average weekly change). Announcement • Feb 02
Baker Hughes Company Declares Quarterly Cash Dividend, Payable on February 23, 2024 Baker Hughes announced that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.21 per share of Class A common stock payable on February 23, 2024, to holders of record on February 13, 2024. Buy Or Sell Opportunity • Jan 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to €26.63. The fair value is estimated to be €33.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$1.93 (vs US$0.61 loss in FY 2022) Full year 2023 results: EPS: US$1.93 (up from US$0.61 loss in FY 2022). Revenue: US$25.5b (up 21% from FY 2022). Net income: US$1.94b (up US$2.54b from FY 2022). Profit margin: 7.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Energy Services industry in Europe. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$1.93 (vs US$0.61 loss in FY 2022) Full year 2023 results: EPS: US$1.93 (up from US$0.61 loss in FY 2022). Revenue: US$25.5b (up 21% from FY 2022). Net income: US$1.94b (up US$2.54b from FY 2022). Profit margin: 7.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Energy Services industry in Europe. Announcement • Dec 13
Baker Hughes Company to Report Q4, 2023 Results on Jan 23, 2024 Baker Hughes Company announced that they will report Q4, 2023 results at 5:00 PM, US Eastern Standard Time on Jan 23, 2024 Announcement • Dec 12
Baker Hughes Appoints Georgia Magno as Chief Legal Officer, Effective January 1, 2024 Baker Hughes announced Georgia Magno as chief legal officer (CLO) effective January 1, 2024. She will be responsible for the Company’s legal and regulatory affairs, corporate governance, and compliance functions. Magno brings 20 years of management and legal experience to the role, previously serving as vice president and general counsel for Baker Hughes’ Industrial & Energy Technology (IET) business segment. In her previous role, Magno focused on enabling the growth of Baker Hughes while working to ensure compliance, legal and reputational excellence. Magno joined the Company in 2010, first as general counsel for the global supply chain and holding subsequent legal roles across commercial, operational and product line organizations in multiple countries including Italy and the U.S. Prior to Baker Hughes, she was an international litigator with the law firms of Cleary Gottlieb and Weil, Gotshal & Manges LLP. Magno is a member of the New York Bar and holds a Master of Laws degree from Harvard Law School and a Juris Doctor from the University of Bologna. She has been a visiting researcher at the Wharton School at the University of Pennsylvania. She also holds the role of vice chairwoman of the Nuovo Pignone Holding Board of Directors. Buying Opportunity • Dec 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €37.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Announcement • Dec 03
Baker Hughes Company Elects Abdulaziz M. Al Gudaimi as Director, Effective January 1, 2024 On November 30, 2023, the Board of Directors (the "Board") of Baker Hughes Company (the "Company") elected Abdulaziz M. Al Gudaimi to serve as a director of the Company with a term beginning on January 1, 2024. At that time, the size of the Board will be expanded from nine to ten members. Abdulaziz M. Al Gudaimi, age 61, had an over 38-year career at Saudi Arabian Oil Company (" Aramco "), an integrated energy and chemical company listed on the Saudi Stock Exchange (Tadawul), culminating in numerous senior management and leadership roles. He retired from Aramco as its Executive Vice President Corporate Development in November 2022, having been responsible for Aramco’s mergers and acquisitions transactions and divestment strategy, a position he held since September 2020. Prior to that, from May 2015 to September 2020, he served as Executive Vice President Downstream leading all Aramco Downstream refining, chemicals, power, infrastructures, marketing & trading, and retail businesses units of Aramco. He began his career at Aramco in November 1983, holding a series of increasingly senior positions and assuming leadership roles in several Aramco affiliated ventures. He served as CEO and President of Aramco Gulf Operation Company (an Aramco subsidiary operating independently with its own board of directors that manages the Saudi Arabian share of hydrocarbon production in the dividing zone between Saudi Arabia and Kuwait) between May 2004 and May 2006. He was also the Director of Gas Venture Development, looking over all non-associated gas upstream offerings to international oil companies between June 2001 and April 2004. He was also the Director of Shaybah Field, leading all oil production facilities of 500,000 Barrels per Day in Saudi Empty Quarter from June 1997 to May 1999. Since March 2023, he has served as an independent director of Banque Saudi Fransi, a bank listed on the Saudi Stock Exchange (Tadawul). He also served as a director of S-Oil Corp., an oil-refining company affiliated with Aramco and listed on the Korea Exchange, from November 2017 to March 2021. The Board has determined that Mr. Al Gudaimi is independent under the corporate governance requirements of Nasdaq and the Company’s Governance Principles. Announcement • Oct 27
Baker Hughes Company Approves Quarterly Cash Dividend on Class A Common Stock, Payable on November 17, 2023 On October 25, 2023, the board of directors of Baker Hughes Company approved a quarterly cash dividend of $0.20 per share of Class A common stock payable on November 17, 2023, to holders of record on November 6, 2023. Announcement • Sep 08
Baker Hughes Company to Report Q3, 2023 Results on Oct 26, 2023 Baker Hughes Company announced that they will report Q3, 2023 results at 5:00 PM, US Eastern Standard Time on Oct 26, 2023 Announcement • Jul 28
Baker Hughes Declares Increased Quarterly Dividend, Payable on Aug. 18, 2023 Baker Hughes announced that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.20 per share of Class A common stock payable on Aug. 18, 2023, to holders of record on Aug. 8, 2023. 
