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Baker Hughes Co Class A BKR Stock Quote

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Morningstar‘s Stock Analysis BKR

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Baker Hughes’ Long-Run Prospects Remain Strong Despite Slowed Customer Activity in Near Term

Analyst Note

| Katherine Olexa |

Baker Hughes posted solid third-quarter results, with revenue increasing 5% year over year and 6% sequentially. The firmwide operating margin was 11% as strong performance from the oilfield services and turbomachinery & process solutions segments offset weak performance from the oilfield equipment segment. Despite the solid results, we’re slightly lowering our fair value estimate to $34 per share from $35 as near-term headwinds from global economic challenges weigh on customer activity over the next few quarters. We’re still optimistic about the firm’s long-term prospects due to strong demand for oil and gas production and additional natural gas refinery capacity that will keep demand elevated through 2026. Our no-moat, stable moat trend, and High Morningstar Uncertainty ratings are unchanged following results.

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Key Statistics BKR

Company Profile BKR

Business Description

Baker Hughes is a global leader in oilfield services and oilfield equipment, with particularly strong presences in the artificial lift, specialty chemicals, and completions markets. The other half of its business focuses on industrial power generation, process solutions, and industrial asset management, with high exposure to the liquid natural gas market specifically, as well as broader industrials end markets.

17021 Aldine Westfield Road
Houston, TX, 77073-5101
T +1 713 439-8600
Sector Energy
Industry Oil & Gas Equipment & Services
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 55,000

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