(Finance) – Baker Hughesone of the largest companies in the field of oil services, has registered revenues for $ 5 billion in the second quarter of 2022, up 4% over the previous three months and down 2% over the same period a year ago. L’Adjusted EBITDA was $ 651 million, up 4% sequentially and 6% year-over-year. There net loss was $ 839 million, or 84 cents per share, compared to a loss of $ 68 million, or 8 cents per share, a year ago. L’adjusted net profit was $ 114 million, or 11 cents per share, compared to $ 83 million, or 10 cents per share, last year.
The company has registered a charge of 365 million dollars related to the suspension of substantially all operations in Russiawhich are prohibited by sanctions or unsustainable in the current environment.
“Looking to the second half of 2022 and 2023, the oil markets have to face an unusual set of circumstances and challenges – commented the CEO Lorenzo Simonelli – On the one hand, the demand outlook for the next 12-18 months is deteriorating as inflation erodes consumer purchasing power and central banks aggressively raise interest rates to fight inflation. On the other hand, due to years of under-investment globally and the potential need to replace Russian barrelswider supply constraints can realistically keep commodity prices at high levels even in a scenario of moderate demand destruction “.
“As a result – he added – we believe the prospects for oil prices remain volatile but still support strong activity levels as more spending is needed to rearrange the global energy map and likely compensates for the destruction of demand in most recession scenarios. ”