Baker Hughes Company (BKR) has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days. The Zacks Consensus Estimate for its 2024 earnings per share suggests a year-over-year surge of almost 41%. What's Favoring the BKR Stock? The West Texas Intermediate crude price is hovering around the $70-per-barrel mark, which is highly favorable for exploration and production activities. Solid oil prices will likely pave the way for further rig additions despite a slowdown in drilling activi ...

Baker Hughes Company (BKR) is set to report third-quarter 2024 results on Oct. 22, after the closing bell. In the last reported quarter, the oilfield service provider's adjusted earnings of 57 cents per share beat the Zacks Consensus Estimate of 49 cents, driven by significant contracts in its Oilfield Services & Equipment segment, including major contracts with Petrobras and the State Oil Company of Azerbaijan Republic. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The company bea ...

Gas and nuclear power are set to be a large part of providing energy for decades to come. The best-laid plans of mice and men often go awry, and that's certainly the case with the clean-energy transition. That's not to say it's not happening, but it's taking place slower than many had expected. The future of energy provision still lies in renewable energy. Still, it's becoming increasingly clear that reliable and plentiful energy sources like natural gas and nuclear power also have a significant role to pla ...

Baker Hughes Integrated Compressor Line (ICL) technology to enhance gas swing storage capacity as part of the United Arab Emirates decarbonization strategy Scope includes 10 ICL units to be installed at Margham Gas storage facility in the Emirate of Dubai HOUSTON and LONDON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday its largest order ever of Integrated Compressor Line (ICL) units with Dubai Petroleum Establishment (DPE), for and on behalf o ...

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Improving farming productivity, fuel-efficient vehicles, and ramping up oil production are three great success stories of the U.S. economy. It's sometimes easy to forget that innovation isn't just about making shareholders money; it's also about making the world a better place and being rewarded for it in the process. For example, the incredible increase in corn yields over the last few decades helps ensure food supply, growth in the fuel economy helps preserve the environment, and growth in oil and gas pro ...

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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 ...