Page 37 - Baker Hughes REPORT - MARCH 2024

3/15/24, 1:54 PM In a remarkable collaboration, Baker Hughes, the energy technology company, has achieved a major breakthrough in flare emissio…

Baker Hughes has successfully developed an emissions abatement technology that enables
effective flare emissions monitoring. This innovative solution, developed in collaboration with bp,

marks a significant step forward in reducing the environmental impact of flaring activities in the

energy industry. Flaring, the process of burning off excess gas during oil and gas production, has

long been a concern due to its contribution to greenhouse gas emissions and air pollution. With this
breakthrough, Baker Hughes is poised to lead the way in tackling this issue, offering the industry a

more sustainable approach to flaring operations.

Comparative Financial Performance

In addition to its technological advancements, Baker Hughes has demonstrated exceptional financial

performance when compared to its competitors. The company reported a remarkable revenue
increase of 15.73% in the fourth quarter of 2023, a significant improvement from the previous year.

This growth surpassed the average revenue growth of its competitors, which stood at 1.76% in the

same quarter. This achievement highlights Baker Hughes' ability to not only innovate but also deliver

tangible results that drive its financial success.

Furthermore, Baker Hughes achieved higher profitability than its competitors, boasting an

impressive net margin of 6.6%. This indicates the company's efficiency in managing costs and
generating profits, further enhancing its position in the market. The company's net income growth in

the fourth quarter of 2023 also outpaced its competitors, registering a remarkable increase of

139.89% compared to an average income growth of 7.57%. These figures highlight Baker Hughes'
ability to capitalize on market opportunities effectively, translating into sustainable growth and

superior financial performance.

Market Share and Future Outlook

While Baker Hughes experienced a slight decline in market share in the fourth quarter of 2023,

dropping to 10.01% from 10.32% in the previous quarter, its overall market share over the past 12

months stands at a healthy 10.03%. This indicates the company's ongoing presence and influence in
the industry, further solidifying its position as a key player.

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