Welcome to our dedicated page for Baker Hughes news (Ticker: BKR), a resource for investors and traders seeking the latest updates and insights on Baker Hughes stock.
Baker Hughes Company reports developments tied to its role as an energy technology company serving energy and industrial customers worldwide. Recurring updates cover oilfield services and equipment, industrial and energy technology, financial results, dividends, governance matters and customer orders for turbomachinery, gas compression, power generation and lifecycle services.
Company news also includes project awards involving NovaLT™ gas turbines, LM-series aeroderivative turbines, centrifugal compressors, remote monitoring and diagnostic services, and inspection technologies through Waygate Technologies. These announcements reflect Baker Hughes' exposure to LNG, pipeline, offshore production, refinery and industrial inspection markets, alongside regular capital-return and earnings communications.
Baker Hughes (NASDAQ: BKR) is set to host a webcast on July 20, 2022, at 8:30 a.m. ET to discuss its Q2 results for the period ending June 30, 2022. A press release with detailed results will be available earlier at 7:00 a.m. ET. Interested listeners can access the webcast through the Baker Hughes investor site, where an archived version will also be posted afterward.
Baker Hughes (NASDAQ: BKR) announced a cash dividend of $.18 per share of Class A common stock. The dividend is scheduled for payment on June 10, 2022 and will benefit shareholders on record as of May 31, 2022. This decision underscores the company’s commitment to returning value to its shareholders while continuing to operate as a leading energy technology firm.
Baker Hughes Company (Ticker: BKR) reported Q1 2022 results with orders of $6.8 billion, a 3% sequential increase and 51% year-over-year growth. However, revenue of $4.8 billion declined 12% sequentially, yet increased 1% year-over-year. GAAP operating income was $279 million, down 51% sequentially but up 70% year-over-year. Free cash flow was negative at $(105) million. Despite the challenges from global supply chain issues and geopolitical tensions, Baker Hughes remains optimistic about growth in LNG and energy transition investments.
Baker Hughes (NASDAQ: BKR) has secured a contract from TERNA to supply hydrogen-ready gas turbines and compressors for Greece's Natural Gas Transmission System. The project includes three NovaLT12 gas turbines and PCL compressors, capable of blending up to 10% hydrogen. Expected to commence operations in 2024, this initiative supports the EU's Hydrogen Strategy aimed at promoting clean hydrogen and a climate-neutral energy system by 2050. Baker Hughes leverages decades of experience in hydrogen technology to advance the energy transition and ensure gas supply across Europe.
Baker Hughes (NASDAQ: BKR) has suspended new investments in its operations in Russia due to the ongoing crisis in Ukraine. The company emphasizes compliance with laws and sanctions while fulfilling existing contractual obligations. CEO Lorenzo Simonelli expressed concern over the situation, prioritizing the health and safety of employees and stakeholders. The decision follows an internal review with the Board of Directors, reflecting the company's commitment to responsible action amidst geopolitical tensions.
Baker Hughes (NASDAQ: BKR) will hold a webcast on April 20, 2022, to discuss its first-quarter results for the period ending March 31, 2022. The webcast is set to begin at 8:30 a.m. ET and a press release with results will be issued at 7:00 a.m. ET.
Shareholders and interested parties can access the webcast on the Baker Hughes website, with an archived version available later.
Baker Hughes (NASDAQ: BKR) has secured a contract from Venture Global LNG to provide a liquefaction train system for the Plaquemines LNG project in Louisiana. This is part of a 70 MTPA master equipment supply agreement. The modularized compression trains will reduce costs and enable faster installation. Baker Hughes will also provide commissioning services. This order builds on previous contracts, showcasing a strong partnership. Initial equipment deliveries are expected in the first half of 2023, contributing to the anticipated robust demand for LNG.
Baker Hughes (NASDAQ:BKR) has formed a strategic partnership with NET Power to enhance the development and commercialization of NET Power's emission-free electric power system. This collaboration will leverage Baker Hughes' advanced technology for creating supercritical CO2 turboexpanders, accelerating market deployment for NET Power's technology. NET Power aims to generate low-cost clean energy while capturing CO2, supporting global decarbonization efforts. The partnership includes other major industry players and focuses on the rapid rollout of utility-scale NET Power plants.
Baker Hughes (NASDAQ: BKR) has declared a cash dividend of $.18 per share for its Class A common stock. This dividend is payable on February 18, 2022, to shareholders on record by February 7, 2022. The company, recognized for its energy technology solutions, operates in over 120 countries and focuses on making energy safer and more efficient.
Michael Baker International has announced a new organizational structure aimed at accelerating growth and expanding its capabilities over the next five years. This initiative, titled 'Reimagine Michael Baker,' is designed to enhance its services in Transportation, Bridge, Water, and Construction while increasing focus on Federal programs. An Executive Committee led by CEO Brian A. Lutes has been formed to oversee this strategic shift. The company aims to attract new clients by leveraging innovative technology solutions and enhancing professional growth opportunities for its employees.