Baker Hughes Non-GAAP EPS of $0.15 misses by $0.05, revenue of $4.83B misses by $180M
Baker Hughes press release (NASDAQ:BKR): Q1 Non-GAAP EPS of $0.15  misses by $0.05.
Revenue of $4.83B (+0.6% Y/Y)  misses by $180M.
Orders of $6.8 billion for the quarter, up 3% sequentially and up 51% year-over-year.
Adjusted operating income of $348 million for the quarter, down 39% sequentially and up 29% year-over-year.

Adjusted EBITDA of $625 million for the quarter, down 26% sequentially and up 11% year-over-year.
âAs we look ahead to the rest of 2022, we see a favorable oil and gas price backdrop but also a dynamic operating environment. The recent and unfortunate geopolitical events are exacerbating several trends, including broad-based inflation and supply pressures for key materials, commodities and labor. Despite some of the challenges, we are optimistic on the outlook across both of our core business areas and excited about the new energy investments we are making for Baker Hughes. We believe that we are well positioned to benefit from an extended cyclical recovery in upstream oil & gas and longer-term structural growth trends in LNG, new energy and industrial asset management." said Lorenzo Simonelli, Baker Hughes chairman and chief executive officer.
Shares -0.65% PM.