Saudi Arabia, the world’s biggest net crude exporter, is using renewables to reduce its petroleum consumption, writes @davidfickling (via @opinion) https://t.co/uaDpG4OmJB ...

Financial Data and Key Metrics Changes - The company achieved record revenue of just under $1,900,000,000 for Q2, an increase of $327,000,000 or 20.9% from the prior year, driven by double-digit growth in both the Energy and Utility segments [19][20] - Gross profit for Q2 was $231,700,000, up $45,000,000 or 24.1% compared to the prior year, with gross margins improving to 12.3% from 11.9% [20][22] - Net income increased to $84,300,000 or $1.54 per fully diluted share, both up around 70% from the prior year [24] Business Line Data and Key Metrics Changes - In the Utility segment, revenues were up double digits from the prior year, with gross profit increasing to $97,500,000, up 52.3% [11][20] - The Energy segment saw revenue growth of $263,300,000 or 27% from the prior year, primarily driven by increased renewables activity [19][22] - Communications revenue and margins were also up double digits from the prior year, supported by growth in fiber to the home programs [12][20] Market Data and Key Metrics Changes - The company is evaluating nearly $1,700,000,000 of work related to data centers, with optimism about winning a fair share of this work [8][19] - There are between $20,000,000,000 and $30,000,000,000 of solar projects planned through 2028 that are on the company's sales radar [11] - The company expects a solid renewables bookings environment in the second half of the year and into 2026 [15][16] Company Strategy and Development Direction - The company aims to grow profitably through disciplined capital allocation and sees significant opportunities in power generation and electric utility needs [6][9] - The strategy to improve utility margins is showing results, with a focus on attracting and retaining talent to meet growing demand [14][29] - The company is committed to disciplined bidding and project execution while managing risk to expand margins and increase cash flow [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand backdrop, stating it is the best experienced as a company, with a strong portfolio of services to meet critical infrastructure needs [29] - The outlook for gas operations is trending more favorably than anticipated, with utilities opting for third-party service providers [12][21] - Management expects to see bookings accelerate in the remainder of the year into 2026, particularly in the renewables and energy sectors [26][27] Other Important Information - The company maintained strong liquidity of $690,000,000, including approximately $390,000,000 in cash [24][25] - Total backlog at the end of Q2 was just under $11,500,000,000, with MSA backlog up over $600,000,000 from Q1 [25][26] - The company updated its guidance for EPS to $4.4 to $4.6 per fully diluted share and adjusted EBITDA guidance to $490,000,000 to $510,000,000 for the full year 2025 [27] Q&A Session Summary Question: Is the expectation for a robust end to the year from an order perspective still valid? - Management confirmed that they are still predicting a back half loaded order book, with good bookings expected in Q3 and Q4 [32][34] Question: How much of the overall demand in the utility segment stems from MSA customers? - Most demand is driven by MSA work, particularly in gas and electric utilities, with improved margins expected to hold [37][38] Question: What are the big levers for the utility segment's bookings? - The growth in bookings was primarily MSA driven, with unexpected mid single-digit growth in gas and communications [51][52] Question: How much of the $2,500,000,000 in solar revenue was realized in the first half? - About $1,000,000,000 of the solar revenue was realized in the first half, with expectations for continued growth [43][44] Question: Can you quantify the closeout payments in the utility segment? - Closeout payments contributed about $6,000,000 of incremental gross profit during the quarter [48] Question: What are the capital allocation priorities moving forward? - The company continues to focus on working capital improvement, paying down debt, and looking for M&A opportunities [91][92]

If the only victims of Donald Trump’s animus towards solar and wind power were investors in renewables and the global temperature, his shenanigans would seem bound to continue. But energy shocks also raise problems closer to home https://t.co/1KoFroWjq2 ...

Core Viewpoint - Z4 Energy Research has established itself as a reputable source in the energy sector, ranking in the top 2% of financial bloggers and top 5% of overall experts as of January 2021 [1] Group 1: Company Overview - Z4 Energy Research has been active in the energy market since 2006, providing insights on oil, natural gas, wind, solar, fuel cells, and other renewable energy sources [1] - The company posts weekly slide shows on oil and natural gas inventory reports and daily analyses on individual companies and energy segments [1] Group 2: Services Offered - Z4 Energy Research offers a fully searchable database of their content, which includes trading history and insights on when they buy and sell [1] - The company encourages engagement by inviting inquiries about energy topics and providing timely updates on their analyses [1]

RT Bloomberg Live (@BloombergLive)"Electric vehicles, renewables - all of that huge chunk of investment still growing. Growing at a tremendous rate," @BloombergNEF's Fauziah Marzuki⏯️ https://t.co/pybnzsnKOu https://t.co/l6VpjoR10L ...

RT Bloomberg Live (@BloombergLive)"If you look at what is happening in the US...the focus is really dialing down on renewables. Asia has continued to say they're committed to a lot of what they said they would do per the Paris Accord." @dbsbank’s Han Kwee Juan #SustainableBizSummit⏯️ https://t.co/vSEJ4lUvOU https://t.co/eIaSCIf1PY ...

Energy Market Outlook - OPEC's world oil outlook forecasts significant energy growth over the next 25 years, driven by a growing global population [1][2] - The report anticipates a 23% increase in energy demand due to population growth, projecting nearly 10 billion people on the planet in 25 years [1][2] - OPEC is bullish on renewables, predicting more growth in renewables than any other single form of energy over the next 25 years [2] - The report highlights the declining use of coal over the next 25 years [9] OPEC's Role and Influence - The report suggests that OPEC plays a crucial role in managing oil market volatility, preventing extreme price fluctuations [6] - Without OPEC as a swing producer, the oil market would experience wild boom-bust price volatility, impacting consumers, producers, and governments [6][8] Hydrogen Energy - Baker Hughes plays a critical role in providing equipment for hydrogen production, including compressors and turbines [3] - Saudi Arabia is investing heavily in hydrogen and is expected to play a significant role in its future expansion [3][4]

Industry Trends & Outlook - Global energy demand is expected to continue increasing, with oil demand extending further into the 2030s, necessitating increased oil and gas production [3] - Significant population and economic growth is anticipated over the next 25 years, primarily in non-OECD nations [6][7] - Saudi Arabia is heavily investing in hydrogen and sees a significant role for hydrogen expansion in the future [4][6] Baker Hughes' Strategy & Opportunities - Baker Hughes plays a critical role in providing equipment and technology for hydrogen, including compressors and turbines [5] - 70% of Baker Hughes' business is internationally focused, with growth opportunities in Southeast Asia, Latin America, Africa, and other developing nations [8] - Baker Hughes' equipment and services are essential throughout the value chain of various molecules, including hydrogen, CO2, and natural gas [9] Policy & Regulatory Landscape - The company believes that the tax credit changes in the United States have maintained many positive aspects, ensuring a continued pipeline of project opportunities [10]

China’s record buildout of renewables may help networks overcome weather-driven demand spikes, according to the research arm of the country’s biggest grid operator. https://t.co/uCZ6c7VSm0 ...

Final GOP bill kneecaps renewables and hydrogen, but lifts nuclear and geothermal | TechCrunch https://t.co/0yOar1ixmd ...