Welcome to our dedicated page for Baker Hughes Co news (Ticker: BKR), a resource for investors and traders seeking the latest updates and insights on Baker Hughes Co stock.
Baker Hughes Company (NASDAQ: BKR) is an energy technology company serving energy and industrial customers worldwide through its oilfield services and equipment and industrial and energy technology segments. The BKR news feed on Stock Titan aggregates company announcements, project awards, portfolio updates, and financial disclosures drawn from official releases and regulatory filings.
News about Baker Hughes often covers major contracts and technology deployments across the global energy value chain. Recent announcements include awards to supply liquefaction equipment and turbomachinery for large LNG export projects, agreements to provide artificial lift systems and digital production solutions for oil and gas fields, and multi-year arrangements for integrated underbalanced coiled tubing drilling operations. The company also reports on its participation in projects such as low-carbon ammonia plants and geothermal power generation, reflecting the use of its technology in a range of energy applications.
Investors and industry followers can also track Baker Hughes’ portfolio management activities through the news stream, including its planned acquisition of Chart Industries, Inc., the sale of its Precision Sensors & Instrumentation product line to Crane Company, and the formation of a joint venture for its surface pressure control product line with a subsidiary of Cactus, Inc. Earnings releases, segment performance commentary, and updates on remaining performance obligations provide additional context on the company’s financial and operational trends.
By following the BKR news page, readers can review a consolidated view of Baker Hughes’ project awards, technology deployments, strategic transactions, and financial updates as they are reported in public communications and SEC-related disclosures.
HMH has secured a contract valued at approximately USD 77 million from the Guangzhou Marine Geological Survey for a pressure control system. This includes a blowout preventer stack, the SeaONYX V.2 control system, and an 8,202 ft. riser package. The contract follows a prior USD 83 million engagement awarded to HMH's subsidiary, MHWirth AS, for topside drilling equipment. Expected delivery of these systems is set for December 2023, marking a significant milestone for HMH after its formation through merger in October 2021.
Baker Hughes (NASDAQ: BKR) has secured a contract with Bechtel to supply high-efficiency gas turbines and compressors for the expansion of the Pluto LNG facility in Western Australia. This new project, Pluto Train 2, will enhance LNG production capacity to about 5 million tons per annum. The collaboration extends Baker Hughes' 30-year partnership with Woodside, focusing on low-carbon energy solutions. The contract includes delivery of six LM6000PF+ gas turbines and 14 centrifugal compressors, aimed at maximizing efficiency and reducing emissions in LNG operations.
Baker Hughes (NYSE: BKR) announced a webcast scheduled for January 20, 2022, to discuss its fourth quarter and full-year results for the period ending December 31, 2021. The webcast will commence at 8:30 a.m. Eastern Time, following a press release at 7:00 a.m. Eastern Time. This event will be accessible via the Baker Hughes investor relations website. The company, with over a century of experience, offers innovative solutions to energy and industrial customers across more than 120 countries.
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Baker Hughes (NYSE: BKR) has announced an investment in Ekona Power Inc. to advance the development of a novel methane pyrolysis technology, which produces turquoise hydrogen with significantly lower carbon emissions than traditional methods. This partnership aims to integrate the technology across various markets, including refineries and chemical plants. Baker Hughes will acquire a 20% stake in Ekona and support pilot project identification and commercialization efforts, enhancing its portfolio for hydrogen decarbonization solutions.
Baker Hughes will transition its Class A common stock and listed bonds from the NYSE to the Nasdaq, effective December 7, 2021. The stock will continue trading under the ticker symbol 'BKR'. This move is expected to enhance liquidity and provide cost savings for Baker Hughes, aligning with the company's strategy to lead in energy technology. CEO Lorenzo Simonelli emphasized that the shift supports their mission to advance the energy transition.
Baker Hughes (NYSE:BKR) has formed a multi-year commercial alliance with Augury, enhancing its asset performance management (APM) capabilities. This partnership integrates Augury’s advanced machine health technology, which utilizes AI and sensors to predict failures and optimize operations. By extending APM solutions to balance of plant machines, the collaboration aims to reduce downtime, maintenance costs, and energy consumption. The APM market is projected to grow at a CAGR of 10.1% through 2026, highlighting the significance of this alliance in accelerating digital transformation within the energy and industrial sectors.
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.