Baker Hughes Co Stock Price, News & Analysis

Baker Hughes (NYSE: BKR) has announced a cash dividend of $.18 per share of Class A common stock. This dividend will be payable on November 12, 2021, to shareholders on record as of November 2, 2021. The company's operational footprint spans over 120 countries, providing innovative energy solutions to enhance safety, efficiency, and sustainability in energy production.

Baker Hughes Company (NYSE: BKR) reported third-quarter 2021 results, highlighting orders of $5.4 billion, up 6% sequentially and 5% year-over-year. Revenue was $5.1 billion, down 1% sequentially but up 1% year-over-year. GAAP operating income rose 95% sequentially to $378 million, while adjusted operating income increased 21% sequentially to $402 million. Free cash flow for the quarter stood at $305 million. Despite challenges like supply chain constraints and cost inflation, the company remains committed to higher margins and shareholder returns.

Baker Hughes' (NYSE: BKR) Subsea Drilling Systems business has successfully merged with Akastor ASA's wholly-owned subsidiary MHWirth AS to establish a new global offshore drilling equipment company named HMH. Both companies hold equal equity in HMH, which aims to enhance drilling efficiency and support the energy transition with innovative solutions. Headquartered in Amsterdam, HMH will leverage a robust service and technology portfolio to explore growth opportunities in drilling services and adjacent industries.

Baker Hughes (NYSE: BKR) has successfully merged its Subsea Drilling Systems business with Akastor ASA's MHWirth AS to form HMH, a global offshore drilling equipment company, effective October 1, 2021. The joint venture combines expertise and resources, aiming to enhance energy-efficient solutions and competitiveness in offshore drilling. HMH, headquartered in Amsterdam with operational centers in Houston and Kristiansand, seeks to leverage its full-service approach in drilling services and explore opportunities in adjacent industries like renewables and mining.

Baker Hughes (NYSE: BKR) will host a webcast on October 20, 2021, at 8:30 a.m. Eastern Time to discuss its third-quarter results for the period ending September 30, 2021. A press release detailing the results will be issued at 7:00 a.m. Eastern Time. Investors can access the webcast via the company's website, with an archived version available afterward. Baker Hughes is a leading energy technology company operating in over 120 countries, focusing on safer and more efficient energy solutions.

MEG Energy has deployed BakerHughesC3.ai's BHC3 Production Optimization AI application to enhance upstream oil and gas production. This implementation aims to improve operational efficiency and increase productivity, while also visualizing risks in production operations. The BHC3 technology utilizes machine learning to monitor and optimize over 300 thermal production wells, contributing to sustainability goals by reducing energy and water usage. Baker Hughes and C3 AI emphasize that enterprise AI is crucial for extracting economic value from complex production data.

Baker Hughes and C3 AI announced the deployment of BHC3 Production Optimization at MEG Energy to enhance operational efficiency in upstream oil and gas production. This enterprise AI application utilizes machine learning for predictive intelligence, improving workflow and risk visualization. MEG Energy aims to optimize steam-assisted gravity drainage production while reducing energy use and greenhouse gas emissions. The deployment is expected to provide actionable insights for over 300 thermal production wells, enhancing productivity and sustainability in their operations.

Michael Baker International has appointed Mike Stengel as Vice President and Office Executive to lead a new office in Bentonville, Arkansas. Stengel, with over 26 years of experience, will focus on strengthening relationships with the Arkansas Department of Transportation (ARDOT) and expanding the client base in Northwest Arkansas. His previous leadership in the Little Rock office has been instrumental in successfully completing numerous ARDOT projects. This strategic move aligns with the firm's goal of tapping into the growing market in the region.

Baker Hughes (NYSE: BKR) has declared a cash dividend of $.18 per share, set for payment on August 20, 2021. Shareholders of record on August 10, 2021 will receive this dividend, reflecting the company's commitment to returning value to its investors. As an energy technology company, Baker Hughes operates across more than 120 countries, focusing on innovative solutions that enhance safety and efficiency in the energy sector.