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Q2 2011 RESULTS – Baker Hughes

Baker Hughes · Jul 25, 2011 · 17 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. Q2 2011 RESULTS – Baker Hughes – slide 1
    Baker Hughes Earnings Conference Call Q2 2011 July 25th, 2011 8:30 am EST 2011 BAKER HUGHES INCORPORATED. ALL RIGHTS RESERVED. TERMS AND CONDITIONS OF USE: BY ACCEPTING THIS DOCUMENT, THE RECIPIENT AGREES THAT THE DOCUMENT…
  2. Q2 2011 RESULTS – Baker Hughes – slide 2
    Q2 2011 Financial Highlights Net income, excluding Libya reserve 408 million 0.93 per share Less: Libya reserve* (70) million (0.16) per share Net income, GAAP 338 million 0.77 per share *Expenses of 70 million (before and…
  3. Q2 2011 RESULTS – Baker Hughes – slide 3
    Q2 2011 Financial Highlights Revenue of 4.74 billion Up 41% year-on-year Up 5% sequentially Adjusted EBITDA 1.02 billion Up 85% or 469 million from 549 million in Q2 10 Up 7% or 63 million from 955 million in Q1 11 Q2 2011…
  4. Q2 2011 RESULTS – Baker Hughes – slide 4
    Q2 2010 to Q2 2011 Bridge 1.00 0.90 0.16 0.80 0.70 0.60 0.60 0.50 0.40 0.02 0.05 0.77 0.30 0.13 0.20 0.10 0.23 - GAAP Q2'10 Operations and Share count related GAAP Q2'11 Libya reserve Corporate and Acquisition…
  5. Q2 2011 RESULTS – Baker Hughes – slide 5
    Q1 2011 to Q2 2011 Bridge 1.00 0.02 0.90 0.08 0.16 0.80 0.70 0.60 0.50 0.87 0.40 0.77 0.30 0.20 0.10 - Operations Net interest, reserves GAAP Q1'11 GAAP Q2'11 Corporate Libya Tax rate, Shares,…
  6. Q2 2011 RESULTS – Baker Hughes – slide 6
    NA Financial Results 7% Up 37% year over year Revenue 2.37 B 15% Up 1% sequentially North America 50% Up 217 MM year over year 17% PBT 440 MM Down 20 MM sequentially 11% PBT 18.6% Down 98 bps sequentially NA LA EARC…
  7. Q2 2011 RESULTS – Baker Hughes – slide 7
    International Financial Results 7% Up 16% year over year Revenue 2.05 B 15% Up 8% sequentially International 50% Up 157 MM year over year 17% PBT 276 MM Up 43 MM sequentially 11% PBT Up 123 bps sequentially 13.5% NA LA…
  8. Q2 2011 RESULTS – Baker Hughes – slide 8
    Industrial and Other Financial Results 7% Up 31% year over year Revenue 324 MM 15% Industrial and Other Up 20% sequentially 50% Up 14 MM year over year 17% PBT 34 MM Up 20 MM sequentially 11% PBT 10.5% Up 531 bps…
  9. Q2 2011 RESULTS – Baker Hughes – slide 9
    Balance Sheet 3.6 billion total debt Repaid 250 million of BJ Services notes 19% total debt to capital ratio Q2 capital expenditure 594 million Liquidity Cash and short-term investments 937 million Undrawn credit facilities…
  10. Q2 2011 RESULTS – Baker Hughes – slide 10
    2011 Full Year Guidance and Assumptions Guidance as of July 25th, 2011 Interest expense 210 215 million (from 200 205) Corporate costs 270 million (from 250 260) D&A 1.37 billion (from 1.38 1.43) Capex unchanged 2.3 2.7…
  11. Q2 2011 RESULTS – Baker Hughes – slide 11
    A Year Later North America: 400 million in new multi-service contracts Technology advancements 40-stage FracPointTM completion pulls through hydraulic fracturing business Next generation FracPoint with IN-tallic frac balls…
  12. Q2 2011 RESULTS – Baker Hughes – slide 12
    North America Overview North America Revenue: 2.36 Billion PBT Margin: 19% Canada: seasonality US Land: robust Gulf of Mexico: slow to recover 16 2011 Baker Hughes Incorporated. All Rights Reserved.
  13. Q2 2011 RESULTS – Baker Hughes – slide 13
    Latin America Overview Latin America Revenue: 542MM PBT Margin: 13% Brazil: pre-salt results Colombia: Drilling Systems strength 17 2011 Baker Hughes Incorporated. All Rights Reserved.
  14. Q2 2011 RESULTS – Baker Hughes – slide 14
    Middle East, Asia Pacific Overview MEAP Revenue: 701MM PBT Margin: 13% China: success in Shengli Gulf: Wireline wins Iraq: risk-managed strategy 18 2011 Baker Hughes Incorporated. All Rights Reserved.
  15. Q2 2011 RESULTS – Baker Hughes – slide 15
    Europe Africa Russia/Caspian Overview EARC Revenue: 806MM PBT Margin: 15% 271 bps margin improvement West Africa: infrastructure delivering UK: HP/HT Wireline Portugal: Drilling Services Excludes expenses of 70 million (before…
  16. Q2 2011 RESULTS – Baker Hughes – slide 16
    Focus On Execution International Leader Leading Margins Margins in the Worlds in North America 15% exiting 2011 Offshore Markets through the cycle competitive in 2012 Number Two in Supply Chain Competency Pressure Pumping…
  17. Q2 2011 RESULTS – Baker Hughes – slide 17
    Summary Long-term outlook strong, driven by sustained growth in developing countries Potential short-term issues Weakness in U.S. economic recovery European debt crises Monetary tightening in China Rig count / forecast US at…

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