Baker Hughes (BKR) Q4 FY2021 earnings: revenue $5.5 billion, down 0.2% on the year

Baker Hughes Co. (BKR) reported revenue of $5.5 billion for Q4 FY2021, the quarter ended 31 December 2021, down 0.2% on the same quarter a year earlier. Net income was $293 million, down 53.9% on the year, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2022.

Revenue

$5.5 billion

-0.2% on the year · +7.7% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

10.5%

3.3% a year earlier

Q1 FY2020Q4 FY2021

Net income

$293 million

-53.9% on the year · +3,562.5% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.41

-71.9% on the year · +4,000.0% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	5,485	5,093	5,495	+7.7%	-0.2%
Cost of revenue	4,280	n/a	n/a
Gross profit	1,205	n/a	n/a
Gross margin	22.0%	n/a	n/a
Selling, general and administrative	634	n/a	n/a
Operating income	574	378	182	+51.9%	+215.4%
Operating margin	10.5%	7.4%	3.3%
Pre-tax income	689	n/a	n/a
Income tax	353	n/a	n/a
Effective tax rate	51.2%	n/a	n/a
Net income	293	8.0	635	+3,562.5%	-53.9%
Net margin	5.3%	n/a	n/a
Diluted EPS	$0.41	$0.01	$1.46	+4,000.0%	-71.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	774	n/a	n/a
Capital expenditure	266	n/a	n/a
Free cash flow	508	n/a	n/a
Free cash flow margin	9.3%	n/a	n/a
Cash from investing	-251	n/a	n/a
Cash from financing	-558	n/a	n/a
Depreciation and amortisation	273	262	307	+4.2%	-11.1%
Buybacks	328	n/a	n/a
Dividends paid	156	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	14,830	14,142	12,893	+4.9%	+15.0%
Non-controlling interest	1,916	n/a	n/a
Debt	6,727	6,764	7,633	-0.5%	-11.9%
Operating lease liabilities	624	n/a	n/a
Other liabilities	11,211	n/a	n/a
Total liabilities and equity	35,308	n/a	n/a
Fixed assets	4,877	n/a	n/a
Goodwill	5,959	n/a	n/a
Intangible assets	4,131	n/a	n/a
Cash and equivalents	3,853	3,926	4,132	-1.9%	-6.8%
Receivables	5,651	n/a	n/a
Inventory	3,979	n/a	n/a
Other assets	6,858	n/a	n/a
Total assets	35,308	n/a	n/a

Questions

What was Baker Hughes' revenue in Q4 FY2021?

Baker Hughes (BKR) reported revenue of $5.5 billion for Q4 FY2021, the quarter ended 31 December 2021, down 0.2% on the same quarter a year earlier.

How much did Baker Hughes earn in Q4 FY2021?

Net income for Q4 FY2021 was $293 million, down 53.9% on the year, and diluted earnings per share $0.41.

When did Baker Hughes report Q4 FY2021 results?

Baker Hughes filed its 10-K for the year that ended with the quarter on 11 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	5,485	4,835	5,047	5,369	5,905	5,716	6,315	6,641	6,834	6,418	7,139	6,908	7,364	6,427	6,910	7,010	7,386	6,587	6,742	8,025
Cost of revenue	4,280	3,865	4,077	4,245	4,569	4,567	5,004	5,298	5,386	4,976	5,493	5,208	5,834	4,952	5,295	5,309	5,633	5,083	5,165	6,097
Gross profit	1,205	970	970	1,124	1,336	1,149	1,311	1,343	1,448	1,442	1,646	1,700	1,530	1,475	1,615	1,701	1,753	1,504	1,577	1,928
Gross margin	22%	20%	19%	21%	23%	20%	21%	20%	21%	22%	23%	25%	21%	23%	23%	24%	24%	23%	23%	24%
R&D	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	164	158	158	163	146	161	146	147	133	143	150
SG&A	634	621	624	620	645	655	695	627	634	618	643	612	585	577	567	597	636	562	569	732
Operating income	574	279	-25.0	269	662	438	514	714	651	653	833	930	665	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating margin	10%	6%	-0%	5%	11%	8%	8%	11%	10%	10%	12%	13%	9%	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	689	187	-655	144	346	760	614	759	522	641	824	1,009	791	561	967	821	528	1,274	892	519
Tax rate	51%	57%	n/a	106%	46%	24%	33%	31%	14%	28%	29%	23%	-50%	27%	26%	25%	-68%	26%	24%	19%
Net income	293	72.0	-839	-17.0	183	576	410	518	439	455	579	766	1,179	402	701	609	876	930	681	411
Net margin	5%	1%	-17%	-0%	3%	10%	6%	8%	6%	7%	8%	11%	16%	6%	10%	9%	12%	14%	10%	5%
Diluted EPS	$0.41	$0.08	-$0.84	-$0.02	$0.18	$0.57	$0.40	$0.51	$0.43	$0.45	$0.58	$0.77	$1.18	$0.40	$0.71	$0.61	$0.88	$0.93	$0.68	$0.41
Operating cash flow	774	72.0	321	597	898	461	859	810	932	784	348	1,010	1,190	709	510	929	1,662	500	1,345	1,005
Capital expenditure	266	268	226	226	269	310	277	281	356	333	292	300	353	300	301	295	377	336	300	271
Free cash flow	508	-196	95.0	371	629	151	582	529	576	451	56.0	710	837	409	209	634	1,285	164	1,045	734
Buybacks	328	236	226	265	101	0.0	99.0	120	319	158	166	152	8.0	188	196	0.0	0.0	0.0	0.0	0.0
Dividends paid	156	172	182	182	190	192	192	202	200	210	209	209	208	229	227	227	227	228	228	228
Shares outstanding	n/a	n/a	n/a	n/a	1,011m	1,012m	1,010m	1,006m	1,001m	998m	993m	990m	990m	991m	986m	987m	988m	992m	993m	993m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 11 February 2022: the filing.