Baker Hughes raises annual forecasts after Chart acquisition and hints at a
Article excerpt
((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) (Adds conference call information throughout) by Vallari Srivastava and Pranav Mathur US oilfield services provider Baker Hughes BKR.O on Wednesday raised its full-year forecasts, reflecting the positive impact of its $13.6 billion acquisition of industrial equipment manufacturer Chart Industries. Speaking at the annual Barclays Energy Conference, CEO Lorenzo Simonelli also expressed optimism about the liquefied natural gas (LNG) markets, where demand for equipment has been pressured by slow approval of new projects and customer spending. “We are seeing an improving outlook for a recovery in LNG orders as we approach 2027,” Simonelli said. The company's stock rose 3.2% in early trading. Baker Hughes finalized the acquisition of Chart in July after obtaining approval from EU competition authorities, on condition of divesting the industrial equipment manufacturer's proprietary process technology and its small-scale process technology business, while ensuring the interoperability of its equipment with that of third parties in the LNG sector. Baker Hughes now expects revenue of between $28.50 billion and $30.30 billion in 2026, compared to a previous forecast of $26.65 billion to $28.05 billion. Adjusted annual earnings before...
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Extracted from this sentence
Adjusted annual earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to be between $4.88 billion and $5.48 billion, compared to a previous forecast of between $4.6 billion and $5.1 billion.
