Core Viewpoint - Baker Hughes Company is expected to report its fourth-quarter and full-year earnings on January 25, 2025, with a focus on its Industrial & Energy Technology and Oilfield Services & Equipment segments [1] Group 1: Segment Performance - The company is anticipated to emphasize the strong performance of the Industrial & Energy Technology (IET) segment and the resilience of the Oilfield Services & Equipment (OFSE) segment during the conference call, particularly highlighting key contract wins in the Middle East [2] - The IET segment is projected to close 2025 with strong momentum, driven by improvements in the aero-derivative supply chain, which will enhance higher-margin Gas Tech Services revenues [2] - The OFSE segment is expected to deliver steady results, supported by U.S. Gulf activity, while international markets may face slight margin headwinds due to foreign exchange [3] Group 2: Quarterly Estimates - Inbound IET orders are estimated at $3.6 billion for the quarter, leading to full-year IET orders of $14.5 billion, which aligns with the full-year guidance range of $13.5 billion to $14.5 billion [4] - IET revenue is projected at $3.47 billion with EBITDA margins of 19.9%, slightly above guidance, resulting in IET EBITDA of $692 million, which is 1.8% above the midpoint guidance of $680 million for the fourth quarter [5] - OFSE EBITDA is expected to be $649 million, close to the guidance of $650 million, contributing to a total fourth-quarter EBITDA of $1.266 billion, slightly above the Street estimate of $1.259 billion [5] Group 3: Future Guidance - For 2026, the company's guidance includes recent M&A activities but excludes the GTLS merger, estimating IET revenue at $13.25 billion with $2.67 billion EBITDA (20.2% margin) [6] - OFSE revenue is projected to decline by 6.9% year-over-year with an 18% EBITDA margin, totaling $4.82 billion, compared to the Street's estimate of $4.88 billion [6] - At the time of publication, Baker Hughes shares were down 0.63% at $49.07 [6]