Baker Hughes Earnings Conference Call Q1 2012 April 24th, 2012 8:30 am EST 2012 BAKER HUGHES INCORPORATED. ALL RIGHTS RESERVED. TERMS AND CONDITIONS OF USE: BY ACCEPTING THIS DOCUMENT, THE RECIPIENT AGREES THAT THE DOCUMENT…
Q1 2012 Earnings Conference Call Adam Anderson Administrative Details Vice President, Investor Relations Peter Ragauss Financial Highlights Senior Vice President and Chief Financial Officer Operational Highlights & Martin…
Quarter Overview Strong International performance in-line with margin improvement plan Challenges in Pressure Pumping product line Rapid transition from gas to oil Balancing of capacity Internal execution Continuing improvement…
Peter Ragauss Senior Vice President and Chief Financial Officer FINANCIAL HIGHLIGHTS 5 2012 Baker Hughes Incorporated. All Rights Reserved.
Q1 2012 Financial Highlights GAAP Net Income 379 million 0.86 per share Baker Hughes Q1 Results Up 18% year over year Revenue 5.36 billion Down 0.6% sequentially Up 4% year over year Adjusted EBITDA 990 million Down 16%…
Q1 2011 to Q1 2012 Bridge 1.40 1.30 1.20 1.10 1.00 0.10 0.08 0.01 0.04 0.90 0.80 0.87 0.86 0.70 0.60 0.50 0.40 0.30 0.20 0.10 GAAP Q1 11 International North America Tax Rate Corporate Expense GAAP Q1 12 Operations…
Reservoir Development Services Reclassification Financial results of Reservoir Development Services Previously reported in Industrial Services Segment Currently reports in geographic Oilfield Operations segments Rationale for…
North America Q1 Results North America Revenue1 PBT1 PBT Margin1 2.86 B 401 MM 14% Up 21% year Down 54 MM Down 530 bps over year year over year year over year Up 1% Down 121 MM Down 450 bps sequentially sequentially2…
International Q1 Results International Revenue1 PBT1 PBT Margin1 2.21 B 295 MM 13% Up 15% year Up 66 MM Up 140 bps over year year over year year over year Down 3% Down 54 MM Down 200 bps sequentially sequentially2…
Industrial Services Q1 Results Industrial Services Revenue1 PBT1 PBT Margin1 281 MM 22 MM 8% Up 14% year Down 4% year Down 150 bps over year over year year over year Down 1% Down 35% Down 420 bps sequentially sequentially2…
Balance Sheet 4.5 billion total debt Up 449 million sequentially Cash taxes paid / employee bonuses / increase in working capital 22% total debt-to-capital ratio Capital expenditures 671 million for Q1 2012 Liquidity Cash of…
Guidance and Assumptions Guidance as of April 24, 2012 FY 2012 North America rig count Average of 2,400 rigs FY 2012 International rig count Average of 1,264 rigs Q2 Interest expense 55 60 million Q2 Corporate costs 80 85…
Martin Craighead President and Chief Executive Officer OPERATIONAL HIGHLIGHTS 15 2012 Baker Hughes Incorporated. All Rights Reserved.
International Operational Highlights Europe / Africa / Russia Caspian Africa led strong performance Drilling and Evaluation in Africa exploration wells HP/HT Wireline Intelligent Well Systems in Norway 1,000 well ESP contract in…
North America Operational Highlights Gulf of Mexico Price improvement Deepwater rigs under construction/higher day rates Pressure Pumping Supply Chain enhancements Maximize fleet utilization Repair and Maintenance Improvements…
18 2012 Baker Hughes Incorporated. All Rights Reserved.
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