Baker Hughes Company (BKR) has unveiled CarbonEdge, a cutting-edge digital solution designed to streamline carbon capture, utilization, and storage (CCUS) operations. The platform aims to enhance operational efficiency, mitigate risks and support regulatory compliance, all while contributing to the global push toward decarbonization. Powered by Baker Hughes' Cordant industrial software, CarbonEdge offers an end-to-end platform for monitoring and optimizing CO2 flows throughout CCUS infrastructure. The solut ...

Company Overview - Baker Hughes is well-positioned for the energy future with strength in gas technology and LNG portfolios within their Industrial & Energy Technology Segment [2] - The company has found resilience in enhanced oil recovery and subsea & surface pressure systems despite global rig utilization decline [3] - Management has confirmed a margin enhancement strategy targeting 20% for both OFSE & IET by 2025 & 2026 respectively [2] Financial Performance - Gas Technology Revenue increased from $6,730 million in FY 2021 to $10,372 million in FY 2023 [12] - Adjusted EBITDA is forecasted to reach $4.55 billion in eFY24 and $4.96 billion in eFY25 [56] - Free Cash Flow is projected to be $1,832 million in eFY24 [45] Operational Highlights - Baker Hughes booked $3.5 billion in projects in the IET segment in Q2 '24, including $1 billion from the Master Gas System with Aramco [13] - The company anticipates gas tech excluding LNG to bring a total value of $100-120 billion through 2030 [13] - Management forecasts LNG demand to increase in mid-single digits annually through the end of the decade, with installed nameplate capacity reaching 800MTPA by 2030 [14] Market Trends - Domestic production is declining due to fewer land rigs being utilized, with operators focusing more on enhanced oil recovery [6] - US rigs are down while Canadian rigs are up, indicating a shift in drilling programs to the Alberta-Montney Basin [10] - The Permian Basin has seen a decline in rigs due to enhanced drilling and recovery programs [11] Strategic Initiatives - Management is driving cost-cutting measures to eliminate overlap and redundancies, aiming for 20% EBITDA margin in OFSE & IET by 2025 & 2026 [56] - The company is focusing on high-margin backlog and supply chain optimization to improve margins [56] - Baker Hughes is refocusing on gas tech and LNG segments, with significant projects booked in these areas [13] Global Outlook - Gas demand is expected to grow at a 20% rate through 2040, with LNG trade playing a significant role [16] - Offshore markets, particularly in Latin America, West Africa, and the Middle East, are expected to drive upstream growth [53] - The Gulf of Mexico remains a strong area for offshore activity, with companies like Chevron and Occidental Petroleum focusing on these assets [54] Shareholder Value - Baker Hughes returned $375 million to shareholders in Q2 '24 through dividends and share repurchases [64] - The company aims to return 60-80% of free cash flow to shareholders, with incremental improvements in dividend rates and share buybacks [64] - BKR shares have outperformed the S&P 500 by 54% since 2021 [68] Future Prospects - Management anticipates significant cash generation, with OFSE expected to generate $3.2 billion in EBITDA in eFY25 [59] - The company is well-positioned for growth in areas outside hydrocarbons, including electrification and turbines for small modular reactors [68] - Natural gas is expected to supply most power during the 2020s, with nuclear capacity taking over in the 2030s, benefiting Baker Hughes [69]

CarbonEdge™ connects subsurface and surface data across carbon capture, utilization and storage (CCUS) infrastructure Solution draws on Baker Hughes' technology, long-standing domain expertise across its diverse portfolio ready to serve entire CCUS value chain Wabash Valley Resources will leverage CarbonEdge for measurement, monitoring, and verification of CO2 and collaborate with Baker Hughes on the solution's continued development HOUSTON and LONDON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ ...

HOUSTON and LONDON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) will announce the results of the third quarter ending Sept. 30, 2024, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, Oct. 22, 2024. A webcast to discuss the results will be held Wednesday, Oct. 23, 2024, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the ...

Baker Hughes Company (NASDAQ:BKR) Barclays 38th Annual CEO Energy-Power Conference Call September 4, 2024 8:35 AM ET Company Participants Lorenzo Simonelli - Chief Executive Officer Conference Call Participants Dave Anderson - Barclays Dave Anderson Since the merger of the GE Oil & Gas and Baker Hughes, we've been fortunate with our front-row seat to the company's transformation as they've used our conference to roll out its annual presentation and evolving strategy each year. So, it's been an impressive jo ...

Amerino Gatti appointed as executive vice president of Oilfield Services & Equipment (OFSE) business segment Maria Claudia Borras appointed as chief growth & experience officer Muzzamil Khider Ahmed appointed as chief people & culture officer HOUSTON and LONDON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ: BKR) ("Baker Hughes" or the "Company") announced Tuesday several changes to its leadership team, effective by Oct. 1. These changes are designed to continue delivering Baker Hughes' su ...

Baker Hughes (BKR) closed the last trading session at $34.51, gaining 1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $43.25 indicates a 25.3% upside potential. The mean estimate comprises 20 short-term price targets with a standard deviation of $2.92. While the lowest estimate of $37 indicates a 7.2% increase from the current price level, the most optimistic analyst expects the ...

A combination of good margin growth and well-balanced order growth led investors to buy this energy services stock last month. Shares in oil and gas equipment and services company Baker Hughes (BKR -5.07%) rose by 10.1% in July, according to data provided by S&P Global Market Intelligence. The move comes after an impressive set of earnings that displayed a combination of good progress on operational improvements and margin expansion, alongside broad-based order strength in industrial and energy technology ( ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by th ...

Baker Hughes (BKR) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. The upward trend in estimate revisions for this oilfield services company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation ...