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Q3 2012 RESULTS – Baker Hughes

Baker Hughes · Oct 19, 2012 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2012 RESULTS – Baker Hughes – slide 1
    Baker Hughes Earnings Conference Call Q3 2012 19 October, 2012 8:00 am EST 2012 BAKER HUGHES INCORPORATED. ALL RIGHTS RESERVED. TERMS AND CONDITIONS OF USE: BY ACCEPTING THIS DOCUMENT, THE RECIPIENT AGREES THAT THE DOCUMENT…
  2. Q3 2012 RESULTS – Baker Hughes – slide 2
    Q3 2012 Earnings Conference Call Administrative Details Trey Clark Vice President, Investor Relations Peter Ragauss Financial Performance Senior Vice President and Chief Financial Officer Martin Craighead Business Outlook…
  3. Q3 2012 RESULTS – Baker Hughes – slide 3
    Quarter Overview Results impacted by challenging market conditions Pressure pumping market remains unbalanced Focused on differentiating technologies and capital discipline 4 2012 Baker Hughes Incorporated. All Rights Reserved.
  4. Q3 2012 RESULTS – Baker Hughes – slide 4
    Financial Performance Peter Ragauss Senior Vice President and Chief Financial Officer 5 2012 Baker Hughes Incorporated. All Rights Reserved.
  5. Q3 2012 RESULTS – Baker Hughes – slide 5
    Q3 2012 Identified Items 28 million (after-tax) for IT charge 15 million (after-tax) due to facility closure 27 million (after-tax) reserve for bad debt Hurricane Isaac disruption Process and Pipeline Services reclassified as…
  6. Q3 2012 RESULTS – Baker Hughes – slide 6
    Q3 2012 Financial Highlights Baker Hughes Q3 Results Adjusted Net Income 322 million 0.73 per share Less: IT Charge1 (28 million) (0.07) per share Less: Facility Closure2 (15 million) (0.03) per share GAAP Net Income 279 million…
  7. Q3 2012 RESULTS – Baker Hughes – slide 7
    Q2 2012 to Q3 2012 EPS Bridge 1.20 (0.10) 1.00 1.00 (0.03) (0.07) (0.02) 0.03 (0.06 ) 0.80 (0.02) (0.07) (0.03) 0.73 0.60 0.63 0.40 0.20 Industrial Disruption International Corporate GAAP Q2 12…
  8. Q3 2012 RESULTS – Baker Hughes – slide 8
    Q3 2011 to Q3 2012 EPS Bridge 1.80 (0.49) 1.60 1.61 1.40 0.06 (0.40) 1.20 1.18 1.00 0.04 (0.02) 0.04 (0.03) (0.06) 0.80 (0.02) (0.07) (0.03) 0.73 0.60 0.63 0.40 0.20 Industrial Termination…
  9. Q3 2012 RESULTS – Baker Hughes – slide 9
    North America Q3 Results North America Revenue PBT PBT Margin 2.74 B 321 MM1 11.7%1 Up 1% year over Down 281 MM year Down 1040 bps year year2 over year2 over year2 Up 3% sequentially Down 36 MM Down 160 bps sequentially…
  10. Q3 2012 RESULTS – Baker Hughes – slide 10
    International Q3 Results International Revenue PBT PBT Margin 2.29 B 248 MM1 10.8%1 Up 7% year Down 1 MM year Down 80 bps year over year2 over year2 over year2 Down 2% Down 72 MM Down 290 bps sequentially sequentially…
  11. Q3 2012 RESULTS – Baker Hughes – slide 11
    Industrial Services Q3 Results Industrial Services Revenue PBT PBT Margin 193 MM 14 MM1 7.3%1 Down 3% year Down 17 MM year Down 830 bps year over year2,3 over year2,3 over year2,3 Down 7% Down 12 MM Down 530 bps sequentially2…
  12. Q3 2012 RESULTS – Baker Hughes – slide 12
    Balance Sheet As of September 30, 2012 Cash 1.0 billion Up 215 million sequentially Total Debt 5.15 billion Up 113 million sequentially Total Debt-to-Capital Ratio 23% Capital Expenditures for Q3 2012 732 million 13…
  13. Q3 2012 RESULTS – Baker Hughes – slide 13
    Guidance and Assumptions Guidance as of October 19, 2012 FY 2012 North America rig count Average of 2,270 rigs Down 1% FY 2012 International rig count Average of 1,200 rigs1 Up 3% Q4 Interest expense 55 60 million Q4 Corporate…
  14. Q3 2012 RESULTS – Baker Hughes – slide 14
    Business Outlook Martin Craighead President and Chief Executive Officer 15 2012 Baker Hughes Incorporated. All Rights Reserved.
  15. Q3 2012 RESULTS – Baker Hughes – slide 15
    North America Activity US Quarterly Wells/Rigs Customers adopting a 5.0 2,500 conservative posture Wells/Rigs Baker Hughes driving 4.0 2,000 increased wells-per-rig Record revenue for 3.0 1,500 Active Rigs Drilling &…
  16. Q3 2012 RESULTS – Baker Hughes – slide 16
    US Pressure Pumping Update Contract base growing Improving 24 hour capabilities Increasing guar alternatives 17 2012 Baker Hughes Incorporated. All Rights Reserved.
  17. Q3 2012 RESULTS – Baker Hughes – slide 17
    Winning in the Gulf of Mexico Leading provider of Drilling Services Leading provider of HPHT Wireline evaluation Leading provider in Completions and Production Systems Fastest growing deepwater market in the world 18 2012 Baker…
  18. Q3 2012 RESULTS – Baker Hughes – slide 18
    International Activity Preparing for Saudi Arabia unconventionals Ramping up in Norway Strengthening position in Africa 19 2012 Baker Hughes Incorporated. All Rights Reserved.
  19. Q3 2012 RESULTS – Baker Hughes – slide 19
    Looking Ahead Investing in differentiating technology Focusing on the core Maintaining capital discipline 20 2012 Baker Hughes Incorporated. All Rights Reserved.
  20. Q3 2012 RESULTS – Baker Hughes – slide 20
    21 2012 Baker Hughes Incorporated. All Rights Reserved.

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