Latest news with #BakerHughes'
Yahoo
4 days ago
- Business
- Yahoo
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations: Chase Mulvehill+1 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations: Chase Mulvehill+1 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 days ago
- Business
- Associated Press
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at For more information, please contact: Media Relations Adrienne M. Lynch +1 713-906-8407 [email protected] Investor Relations: Chase Mulvehill +1 346-297-2561 [email protected]
Yahoo
17-05-2025
- Business
- Yahoo
Will Weakness in Baker Hughes Company's (NASDAQ:BKR) Stock Prove Temporary Given Strong Fundamentals?
With its stock down 19% over the past three months, it is easy to disregard Baker Hughes (NASDAQ:BKR). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Baker Hughes' ROE in this article. ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. The formula for return on equity is: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Baker Hughes is: 17% = US$3.0b ÷ US$17b (Based on the trailing twelve months to March 2025). The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.17 in profit. View our latest analysis for Baker Hughes Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features. To begin with, Baker Hughes seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 13%. This certainly adds some context to Baker Hughes' exceptional 85% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently. Next, on comparing with the industry net income growth, we found that Baker Hughes' growth is quite high when compared to the industry average growth of 58% in the same period, which is great to see. The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for BKR? You can find out in our latest intrinsic value infographic research report. The three-year median payout ratio for Baker Hughes is 37%, which is moderately low. The company is retaining the remaining 63%. So it seems that Baker Hughes is reinvesting efficiently in a way that it sees impressive growth in its earnings (discussed above) and pays a dividend that's well covered. Moreover, Baker Hughes is determined to keep sharing its profits with shareholders which we infer from its long history of eight years of paying a dividend. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 36% of its profits over the next three years. Accordingly, forecasts suggest that Baker Hughes' future ROE will be 15% which is again, similar to the current ROE. On the whole, we feel that Baker Hughes' performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Iraq Business
03-05-2025
- Business
- Iraq Business
Baker Hughes discusses Energy Development Projects in Iraq
By John Lee. Baker Hughes Chairman and CEO Lorenzo Simonelli met this week with Iraqi Prime Minister Mohammed S. Al-Sudani to explore avenues of cooperation in the energy sector and review the company's current projects in the country. Talks focused on the development of gas processing units at the Nasiriyah oil field, with a target capacity of 200 million standard cubic feet per day. Phase one of the project is expected to be completed before the summer of 2026, followed by phase two in 2027. Prime Minister Al-Sudani reiterated the government's commitment to supporting Baker Hughes' operations in Iraq, highlighting a series of reforms designed to improve the business climate and attract international investment across all sectors. Mr. Simonelli affirmed Baker Hughes' intention to expand its presence in Iraq and deliver strategic energy projects, emphasising the country's potential as a key investment destination. (Source: PMO)
