Core Insights - Baker Hughes reported revenue of $7.01 billion for the quarter ended September 2025, reflecting a 1.5% increase year-over-year and a surprise of +2.61% over the Zacks Consensus Estimate of $6.83 billion [1] - The company's EPS was $0.68, up from $0.67 in the same quarter last year, with an EPS surprise of +11.48% compared to the consensus estimate of $0.61 [1] Financial Performance - Orders in Industrial & Energy Technology reached $4.14 billion, exceeding the average estimate of $3.2 billion [4] - Total orders amounted to $8.21 billion, surpassing the average estimate of $6.55 billion [4] - Orders for Oilfield Services & Equipment were $4.07 billion, compared to the average estimate of $3.39 billion [4] - Revenue from Oilfield Services & Equipment International was $2.66 billion, slightly above the estimate of $2.61 billion, but down 11.2% year-over-year [4] - Revenue from Oilfield Services & Equipment North America was $980 million, exceeding the estimate of $948.24 million, with a year-over-year increase of 0.9% [4] - Revenue from Oilfield Services & Equipment International in Europe/CIS/Sub-Saharan Africa was $599 million, below the estimate of $646.65 million, reflecting a significant year-over-year decline of 35.8% [4] - Revenue from Oilfield Services & Equipment International in the Middle East/Asia was $1.45 billion, above the estimate of $1.38 billion, with a year-over-year increase of 3.1% [4] - Overall revenue from Oilfield Services & Equipment was $3.64 billion, slightly above the estimate of $3.58 billion, but down 8.3% year-over-year [4] - Revenue from Industrial & Energy Technology was $3.37 billion, exceeding the estimate of $3.26 billion, with a year-over-year increase of 14.6% [4] - Revenue from Gas Technology Services was $803 million, above the estimate of $766.56 million, reflecting a year-over-year increase of 15.2% [4] - Revenue from Climate Technology Solutions was $84 million, significantly below the estimate of $195.64 million, representing a drastic year-over-year decline of 56% [4] Stock Performance - Baker Hughes shares have returned -6.4% over the past month, contrasting with the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Viewpoint - Baker Hughes (BKR) is expected to report quarterly earnings of $0.61 per share, reflecting a 9% decline year-over-year, with revenues projected at $6.83 billion, a decrease of 1.2% compared to the previous year [1] Revenue Estimates - Analysts predict 'Revenue- Oilfield Services & Equipment' to be $3.58 billion, indicating a year-over-year decline of 9.6% [4] - 'Revenue- Industrial & Energy Technology' is estimated to reach $3.26 billion, showing a year-over-year increase of 10.6% [4] - 'Revenue- Gas Technology Services' is projected at $766.52 million, reflecting a 10% increase from the prior year [4] - 'Revenue- Climate Technology Solutions' is expected to be $195.64 million, indicating a 2.4% increase year-over-year [5] - 'Revenue- Oilfield Services & Equipment- International' is forecasted at $2.61 billion, showing a decline of 12.7% [5] - 'Revenue- Oilfield Services & Equipment- North America' is estimated at $948.24 million, reflecting a 2.3% decline [6] - 'Revenue- Oilfield Services & Equipment- International- Europe/CIS/Sub-Saharan Africa' is projected to be $646.65 million, indicating a significant decline of 30.7% [6] - 'Revenue- Oilfield Services & Equipment- International- Middle East/Asia' is expected to reach $1.38 billion, reflecting a 2% decline [7] Orders Estimates - 'Orders - Industrial & Energy Technology' is forecasted to reach $3.20 billion, compared to $2.87 billion reported in the same quarter last year [7] - 'Orders - Total' is expected to be $6.55 billion, slightly down from $6.68 billion year-over-year [7] - 'Orders - Oilfield Services & Equipment' is projected at $3.39 billion, down from $3.81 billion reported in the same quarter last year [8] - 'Orders - Climate Technology Solutions' is expected to be $286.63 million, up from $215.00 million in the same quarter last year [8] Stock Performance - Over the past month, Baker Hughes shares have returned -2.9%, while the Zacks S&P 500 composite has increased by 1.2% [9] - Currently, Baker Hughes holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [9]

Financial Data and Key Metrics Changes - Total Q2 revenue was $274 million, representing a sequential decline of 2.4% [8] - Adjusted EBITDA for Q2 was $87 million, down 7.6% sequentially, with adjusted EBITDA margins at 31.7% compared to 33.5% in Q1 [11][12] - GAAP income decreased to $49 million in Q2 from $54 million in Q1, primarily due to lower operating income [12] - Adjusted net income for Q2 was $53 million, or $0.66 per share, down from $59 million and $0.73 per share in Q1 [12] Business Line Data and Key Metrics Changes - Pressure Control segment revenues were $180 million, down 5.5% sequentially, mainly due to lower rental business revenue [8][9] - Spoolable Technologies segment revenues increased to $96 million, up 3.9% sequentially, driven by higher domestic customer activity [10] - Operating income for the Pressure Control segment declined by $12 million or 22.1% sequentially, while operating income for Spoolable Technologies increased by $4.2 million or 17.5% [9][10] Market Data and Key Metrics Changes - The U.S. Land rig count was reported at 526, which is 5% below the second quarter average [20] - The average rig count is expected to decline further, impacting pressure control revenue in Q3 [20] Company Strategy and Development Direction - The company announced a transformative acquisition of a controlling interest in Baker Hughes' surface pressure control business, aiming to diversify its footprint [6][23] - The focus remains on enhancing operational efficiencies and supply chain management, particularly in light of tariff impacts [17][46] Management's Comments on Operating Environment and Future Outlook - Management noted that the second quarter faced challenges due to tariff increases and commodity market weakness, but free cash flow remained strong [6][24] - The company anticipates that the sharpest domestic activity declines for 2025 are behind them, with expectations for a broader geographic footprint post-acquisition [24] Other Important Information - The Board approved an 8% increase in the quarterly dividend to $0.14 per share, reflecting confidence in cash flow durability [7][15] - Legal expenses related to ongoing litigation increased by approximately $2 million from the first quarter [9] Q&A Session Summary Question: Impact of tariffs on pressure control margins - Management acknowledged that the unexpected doubling of tariffs impacted margins, but cost recovery initiatives were paused due to falling oil prices [27][28] Question: Customer confidence in ramping activity - Management indicated that customers are focused on capital discipline and returning cash to shareholders, which has led to a cautious approach towards CapEx expansion despite favorable oil prices [31][32] Question: Trends in drilling, completions, and production - Management noted that completions activity is expected to decline more significantly than drilling, with production activity not suffering to the same degree [39][40] Question: Acquisition strategy in the Middle East - Management expressed optimism about turning around the acquired business, focusing on supply chain improvements and cultural changes [42][46] Question: Legal charges and ongoing litigation - Management confirmed that trial delays would lead to further legal expenses, but the nature of the dispute involves IP issues related to the SafeLink product [52][53]

Core Insights - Baker Hughes reported revenue of $6.91 billion for the quarter ended June 2025, a decrease of 3.2% year-over-year, while EPS increased to $0.63 from $0.57 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $6.63 billion by 4.17%, and the EPS surpassed the consensus estimate of $0.55 by 14.55% [1] Financial Performance Metrics - Total orders reached $7.03 billion, exceeding the three-analyst average estimate of $6.8 billion [4] - Orders in Industrial & Energy Technology amounted to $3.53 billion, surpassing the four-analyst average estimate of $3.26 billion [4] - Revenue from Oilfield Services & Equipment was $3.62 billion, compared to the $3.5 billion average estimate, reflecting a year-over-year decline of 9.8% [4] - Revenue from Industrial & Energy Technology was $3.29 billion, exceeding the $3.13 billion average estimate, with a year-over-year increase of 5.3% [4] Regional Performance - Revenue from Oilfield Services & Equipment in North America was $928 million, above the three-analyst average estimate of $881.16 million, representing a year-over-year decline of 9.3% [4] - International revenue from Oilfield Services & Equipment in Europe/CIS/Sub-Saharan Africa was $653 million, exceeding the $593.13 million average estimate, with a year-over-year decline of 21% [4] - Revenue from Oilfield Services & Equipment in the Middle East/Asia was $1.4 billion, slightly below the $1.46 billion estimate, reflecting a year-over-year decline of 6.7% [4] Stock Performance - Baker Hughes shares have returned +21% over the past month, significantly outperforming the Zacks S&P 500 composite's +4.9% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Investment Rating - The report maintains an "Outperform" rating for Baker Hughes, indicating an expected total return exceeding the relevant market benchmark over the next 12-18 months [12]. Core Insights - Baker Hughes is expected to receive positive market feedback for its Q2 2025 performance, with adjusted EBITDA reported at $1.212 billion, surpassing consensus estimates [1][2]. - The company plans to raise its full-year revenue and adjusted EBITDA guidance for its Industrial Energy and Technology segment, while also revising guidance for its Oilfield Services and Equipment segment [1][2]. - The strong performance in Q2 2025 is attributed to productivity improvements, structural cost reductions, and sales growth across both business segments [2][3]. Summary by Sections Financial Performance - Adjusted EBITDA for Q2 2025 was $1.212 billion, exceeding the consensus of $1.123 billion by nearly 10% [2]. - Revenue for the quarter was $6.910 billion, slightly above consensus, driven by growth in both business segments [2]. - The EBITDA margin improved to 18% in Q2 2025 from 16.1% in Q1 2025 [2][5]. Oilfield Services and Equipment - Revenue for this segment reached $3.617 billion, exceeding consensus expectations [2]. - Adjusted EBITDA for the segment was also above consensus, benefiting from productivity gains and cost-cutting measures [2]. - The full-year guidance for this segment is set at $14.5 billion to $15.5 billion in revenue, with adjusted EBITDA between $2.85 billion and $3.15 billion [2]. Industrial and Energy Technology - This segment reported revenue of $3.293 billion, surpassing expectations, with an EBITDA margin of 18% [3]. - The strong performance is attributed to favorable pricing, beneficial foreign exchange rates, and productivity, although partially offset by rising costs [3]. - The full-year guidance for this segment is revenue between $12.4 billion and $13.1 billion, with adjusted EBITDA of $2.2 billion to $2.4 billion [3].

Financial Performance - Hilong achieved a total revenue of RMB 3,736 million in 2022, a 28.1% increase compared to RMB 2,917 million in 2021[13, 20] - The company's net profit increased significantly by 204.2% from RMB 48 million in 2021 to RMB 146 million in 2022[20] - Gross profit increased by 18.8% from RMB 898 million in 2021 to RMB 1,067 million in 2022, while the gross profit margin slightly declined from 30.8% to 28.6%[20, 46] Segment Revenue - Oilfield Equipment Manufacturing and Services generated RMB 2,210 million in revenue[24] - Drill pipes and other products within this segment reported substantial revenue increase due to increased market demand[17, 25] - Oilfield Services achieved stable growth with a segment revenue of RMB 1,057 million[29] - Line Pipe Technology and Services reported a segment revenue of RMB 355 million, a slight decline compared to the previous year[34, 35] - Offshore Engineering Services experienced a decline in segment revenue, reaching RMB 114 million[39] Regional Revenue - China accounted for 29.3% of the company's revenue in 2022[43] - The Middle East contributed 25.5% to the total revenue[43] - North & South America accounted for 16.2% of the revenue[43] Costs and Capital Structure - Total cost increased from RMB 2,019 million in 2021 to RMB 2,669 million in 2022, with raw materials constituting 58% of the total cost[49, 51, 52] - Cash and cash equivalents increased from RMB 629 million to RMB 778 million[54] - The gearing ratio (Net Debt/Total Capital) decreased from 44% to 40%[55]

2019年全年业绩路演 2023 Interim Results Presentation Disclaimer The presentation material contains forward-looking statements. Such forward-looking statements are subject to various risks, uncertainties and assumptions, certain of which are not under our control, causing actual results and growth which may differ materially from these direct or indirect forward-looking statements. Forward-looking events and relevant development discussed herein may differ from the expectation of Hilong Holding Limited (the "Compan ...

Financial Performance - In 2023, the company achieved total revenue of RMB 4,251.5 million and a net profit of RMB 171.5 million[16] - Revenue increased by 38.4% from 2022 to 2023[12, 16] - Net profit increased by 55.3% from 2022 to 2023[12, 16] - Gross profit increased from RMB 685 million in 2022 to RMB 915 million in 2023[16, 32] Segment Performance - Oilfield Equipment Manufacturing & Services revenue increased by 37.5%[13, 20] - Oilfield Services revenue increased by 10.5%[14, 25] - Offshore Engineering Services revenue increased significantly by 311.9%[15, 27] Business Development & Strategy - The company is focusing on high-tech specialized integrated EPCIC turkey service business model in Offshore Engineering Services[15] - The company is strengthening R&D and digital transformation across all segments[15, 20, 25, 27] - The company is focusing on US/Canada and Middle East markets for Oilfield Equipment Manufacturing & Services[45] - The company aims to further develop business model of existing drilling and workover service, technical service and oilfield trade service, elevate Integrated turnkey project service[46]