Baker Hughes reports sales of $6.41 billion for Q1 2024, up 12% on the same period a year earlier.

Adjusted EBITDA was $943 million, up 21%, while adjusted net income was $429 million, up 48% year-on-year, giving adjusted EPS of $0.43 (+50%).

"Our strong first-quarter results put us on track to meet our full-year guidance and continue to build on last year's momentum as we execute our strategy," said Baker Hughes Chairman and CEO Lorenzo Simonelli.

He added that Baker Hughes had booked $239 million in new energy orders and generated over $500 million in FCF.

'We also repurchased $158 million in shares and remain on track to deliver between 60% and 80% of free cash flow to shareholders', he added.


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