(AOF) – Baker Hughes, a Texas oil services company, announced record orders for its fourth fiscal quarter of 2022 of $ 8 billion, up 32% compared to the previous quarter and 20% compared to last year. Its quarterly revenue reached $5.9 billion, up 10% from the prior quarter and 8% from a year earlier. Its adjusted operating profit amounted to 692 million dollars, climbing 38% and 21% compared to last year.
Baker Hughes’ adjusted earnings per share were 38 cents, 2 cents below the Refinitiv consensus. Cash flow from operating activities reached $898 million in the quarter, while free cash flow was $657 million.
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Biogas to green activities
Obtained through the decomposition of waste, it falls into the category of green energy. It is part of the strategy of many countries, particularly in Europe, to reduce their dependence on hydrocarbon imports. The oil groups have strong ambitions in the field, as revealed by two recent operations. The British BP took over the American Archaea Energy for 4.1 billion dollars. Then, the Anglo-Dutch, Shell, announced the acquisition of the Danish Nature Energy for 2 billion dollars. These transactions show high valuation levels, underlining the strong potential of the sector. TotalEnergies had already taken a stake in the American Clean Energy Fuels Corp in 2018, of which it now holds 19%. It recently joined forces with Veolia to recover biomethane from waste treatment facilities.