Baker Hughes Company has secured a multi-year contract with Kuwait Oil Company to supply electrical submersible pumps, marking a significant milestone in its nearly two-decade presence in the region. This development follows a challenging quarter, with the company's share price dropping 10%, yet it continues to show strong fundamentals, generating $2.1 billion in free cash flow. Analysts are optimistic, with price targets raised by Citi and UBS, indicating potential for recovery amidst a broader demand for its oilfield services and new technologies in the hydrogen sector.
“Baker Hughes Company (NASDAQ:BKR) · share price drop · last quarter · 10%”
“Baker Hughes Company (NASDAQ:BKR) · return over the last half decade · investors · 117%”
“Baker Hughes Company (NASDAQ:BKR) · TSR over the last 5 years · dividends · 147%”
“Baker Hughes · has secured · a multi-year contract with Kuwait Oil Company (KOC) · true”
“Baker Hughes · will supply · electrical submersible pumps (ESPs) · true”
“Baker Hughes · has operated · artificial lift systems in Kuwait's oilfields · nearly two decades”
“Baker Hughes · operates · a 25,000-square-meter workshop in Kuwait · true”
“Baker Hughes · signed · a memorandum of understanding with local partners · true”
“Baker Hughes Company · offers · a variety of technologies and services · to the global energy markets”
“BKR · has recently been selected · to deliver liquefaction systems · for the Commonwealth LNG export project”
“Baker Hughes · has generated · $2.1 billion · trailing twelve month free cash flow”
“Baker Hughes · free cash flow · $4.2 billion · by 2035”
