- Baker Hughes Co (NASDAQ:BKR) reported fourth-quarter FY22 sales growth of 8% year-on-year, to $5.91 billion, missing the consensus of $6.06 billion.
- Orders for the quarter totaled $8 billion, a 20% increase Y/Y.
- Operating margin was 11.2%, and operating income for the quarter rose 15% to $663 million.
- The company held $2.5 billion in cash and equivalents as of December 31, 2022.
- Cash from operating activities amounted to $898 million, and free cash flow was $657 million.
- Adjusted EBITDA for the quarter rose 12% Y/Y to $947 million.
- Adjusted EPS of $0.38 missed the analyst consensus of $0.40.
- “In 2023, the global economy is expected to experience some challenges under the weight of inflationary pressures and tightening monetary conditions,” said chairman and CEO Lorenzo Simonelli.
- Price Action: BKR shares are trading higher by 1.38% at $31.50 in premarket on the last check Monday.
Why Is Small-Cap Cancer Focused Vincerx Pharma Stock Plummeting On Tuesday?
Preliminary Phase 1 data for VIP236 and updates on pipeline progress presented by Vincerx Pharma at AACR Annual Meeting 2024. Results on VIP236 monotherapy for metastatic tumor patients, minimal adverse events observed. VIP943 Phase 1 study shows favorable safety profile for CD123+ acute myeloid leukemia and others.
