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BAKER HUGHES a GE (BHI)

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com

Company profile

Ticker
BHI
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Former names
BAKER HUGHES a GE Co LLC, BAKER HUGHES INC
SEC CIK
IRS number
760207995

Investment data

Data from SEC filings
1 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$157.96M 8.65M 8.65M 0
Holdings list only includes long positions. Only includes long positions.

Calendar

21 Jul 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.92B 2.92B 2.92B 2.92B 2.92B 2.92B
Cash burn (monthly) 87.67M 81.5M 218.33M (no burn) (no burn) (no burn)
Cash used (since last report) 144.41M 134.25M 359.64M n/a n/a n/a
Cash remaining 2.78B 2.79B 2.56B n/a n/a n/a
Runway (months of cash) 31.7 34.2 11.7 n/a n/a n/a

Beta Read what these cash burn values mean

13F holders Current Prev Q Change
Total holders 635 657 -3.3%
Opened positions 73 151 -51.7%
Closed positions 95 50 +90.0%
Increased positions 281 231 +21.6%
Reduced positions 198 200 -1.0%
13F shares Current Prev Q Change
Total value 27.96B 35.99B -22.3%
Total shares 969.04M 988.63M -2.0%
Total puts 3.36M 3.7M -9.3%
Total calls 2.62M 3.84M -31.7%
Total put/call ratio 1.3 1.0 +32.8%
Largest owners Shares Value Change
Capital World Investors 120.13M $3.47B +3.1%
Vanguard 112.91M $3.26B +9.1%
Capital Research Global Investors 109.51M $3.16B +15.5%
BLK Blackrock 80.16M $2.31B +13.3%
STT State Street 65.09M $1.88B +4.5%
GE General Electric 44.52M $1.29B -61.8%
JPM JPMorgan Chase & Co. 37.88M $1.09B +96.8%
FMR 26.88M $775.95M +41.2%
Dodge & Cox 23.55M $679.96M -10.1%
Geode Capital Management 19.08M $549.74M +10.3%
Largest transactions Shares Bought/sold Change
GE General Electric 44.52M -72.03M -61.8%
JPM JPMorgan Chase & Co. 37.88M +18.63M +96.8%
Capital Research Global Investors 109.51M +14.73M +15.5%
PZN Pzena Investment Management 1.84M -10.37M -84.9%
Vanguard 112.91M +9.42M +9.1%
BLK Blackrock 80.16M +9.41M +13.3%
FMR 26.88M +7.84M +41.2%
BEN Franklin Resources 10.4M +7.09M +214.6%
LGEN Legal & General 0 -6.56M EXIT
TROW T. Rowe Price 14.52M -6.22M -30.0%

Financial report summary

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Risks
  • We operate in a highly competitive environment, which may adversely affect our ability to succeed.
  • Our business could be adversely affected by the widespread outbreak of a disease or virus. The current global spread of the COVID-19 virus has and may continue to materially and adversely affect our results of operations, cash flows, and financial condition for an indeterminate amount of time.
  • Failure to effectively and timely execute our energy transition strategy could have an adverse effect on the demand for our technologies and services.
  • Disruptions in our supply chain, the high cost or unavailability of raw materials, equipment, and supplies essential to our business could adversely affect our ability to execute our operations on a timely basis.
  • If we are unable to attract and retain qualified personnel, we may not be able to execute our business strategy effectively and our operations could be adversely affected.
  • Our business could be impacted by both geopolitical and terrorism threats in countries where we or our customers do business and our business operations may be impacted by civil unrest and/or government expropriations.
  • Our operations involve a variety of operating hazards and risks that could cause losses.
  • Seasonal and weather conditions could adversely affect demand for our services and operations.
  • We are subject to risks related to our relationship with GE.
  • Providing services on an integrated, turnkey, or fixed price basis could require us to assume additional risks.
  • We may not be able to satisfy technical requirements, testing requirements or other specifications required under our service contracts and equipment purchase agreements.
  • We sometimes enter into consortium or similar arrangements for certain projects, which could impose additional costs and obligations on us.
  • Our contracts may be terminated early in certain circumstances.
  • The credit risks of having a concentrated customer base in the energy industry could result in losses.
  • Our customers’ activity levels and spending for our products and services and ability to pay amounts owed us could be impacted by the reduction of their cash flow and the ability of our customers to access equity or credit markets.
  • Compliance with and changes in laws could be costly and could affect operating results. In addition, government disruptions could negatively impact our ability to conduct our business.
  • Our failure to comply with the Foreign Corrupt Practices Act ("FCPA") and other similar laws could have a negative impact on our ongoing operations.
  • Anti-money laundering and anti-terrorism financing laws could have adverse consequences for us.
  • Changes in tax laws, tax rates, tariffs, adverse positions taken by taxing authorities, and tax audits could impact operating results.
  • Uninsured claims and litigation against us could adversely impact our operating results.
  • We may be subject to litigation if another party claims that we have infringed upon, misappropriated or otherwise violated its intellectual property rights.
  • Compliance with, and rulings and litigation in connection with, environmental regulations and the environmental impacts of our operations may adversely affect our business and operating results.
  • Investor and public perception related to the company’s environment, social, and governance ("ESG") performance as well as current and future ESG reporting requirements may affect our business and our operating results.
  • International, national, and state governments and agencies continue to evaluate and promulgate legislation and regulations that are focused on reducing greenhouse gas ("GHG") emissions. Compliance with GHG emission regulations applicable to our or our customers' operations may have significant implications that could adversely affect our business and operating results in the fossil-fuel sectors, and boosting demand for technologies contributing to the reduction of GHG emissions.
  • Requirements and voluntary initiatives to reduce greenhouse gas emissions, as well as increased climate change awareness, may result in increased costs for the oil and gas industry to curb greenhouse gas emissions and could have an adverse impact on demand for oil and natural gas.
  • The potential for physical effects of climate change may pose future risks to our operations and those of our customers.
  • Changes in laws or regulations relating to data privacy and security, or any actual or perceived failure by us to comply with such laws or regulations, or contractual or other obligations relating to data privacy or security, may adversely affect our business and operating results.
  • An inability to obtain, maintain, protect or enforce our intellectual property rights could adversely affect our business.
  • Increased cybersecurity vulnerabilities and threats, and more sophisticated and targeted cyber attacks and other security incidents, pose risks to our systems, data and business, and our relationships with customers and other third parties.
  • Volatility of oil and natural gas prices can adversely affect demand for our products and services.
  • Demand for oil and natural gas is subject to factors beyond our control, which may adversely affect our operating results. Changes in the global economy could impact our customers’ spending levels and our revenue and operating results.
  • Supply of oil and natural gas is subject to factors beyond our control, which may adversely affect our operating results.
  • Currency fluctuations or devaluations may impact our operating results.
  • Changes in economic and/or market conditions may impact our ability to borrow and/or cost of borrowing.
Management Discussion
  • Revenue decreased $95 million, or 2%, driven by lower volume in TPS and OFE, partially offset by higher volume in OFS and DS. TPS decreased $335 million and OFE decreased $95 million, partially offset by OFS which increased $331 million and DS which increased $4 million.
  • Total segment operating income increased $41 million. The increase was driven by OFS which increased $90 million, partially offset by OFE which decreased $40 million, DS which decreased $7 million, and TPS which decreased $2 million.
  • OFS revenue of $2,689 million increased $331 million, or 14%, in the second quarter of 2022 compared to the second quarter of 2021, as a result of increased activity in North America and internationally, as evidenced by an increase in the global rig count. North America revenue was $857 million in the second quarter of 2022, an increase of $164 million from the second quarter of 2021. International revenue was $1,832 million in the second quarter of 2022, an increase of $166 million from the second quarter of 2021, driven by the Latin America, Middle East, Sub-Sahara Africa and Asia Pacific regions, partially offset by declines in the Russia Caspian and Europe regions.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: absorption, affordable, approval, backlog, baseload, began, central, combat, complement, Conversely, deteriorating, elevated, enacted, environmental, European, guarantee, infrastructure, intermittent, Kingdom, lesser, lever, map, MarkTM, offtake, opportunistically, perspective, reach, reached, realistically, recessionary, recognition, replace, reserve, Russian, scale, scenario, small, society, transform, turbulence, underinvestment, Union, unsustainable, unusual, visibility
Removed: cleaner, decarbonization, geographical, multiple, refinancing, stable, UK