Benzinga

The article provides a general valuation assessment of Baker Hughes (BKR) based on historical data and analyst forecasts, according to Simply Wall St. It cites new offshore contract activity and the company’s energy-transition growth initiatives as factors for consideration. The piece is not investment advice and does not include specific financial figures or a price target.

Baker Hughes CEO Lorenzo Simonelli said the company is expanding beyond oilfield services into industrial energy, focusing on LNG, power, geothermal, carbon capture and hydrogen to reduce upstream oil and gas exposure. In Q1, Baker Hughes booked $1.4 billion in power systems orders, including $1 billion from data centers, and may raise its $3 billion data-center target for 2025-2027. The company expects new energy revenue of $2.4–$2.6 billion in 2024 and said the pending Chart Industries acquisi

Stocks ended mixed as markets weighed conflicting US-Iran signals. The IEA said global oil inventories fell about 4 million bpd in March-April and remain “severely undersupplied” until October even if conflict ends next month; Goldman estimates nearly 500 million bbl drawn from crude stocks. S&P 500 Q1 earnings beat rates were 83% (of 475 firms). WTI fell over 5%, lifting airlines while energy stocks declined.

Markets were mixed as investors awaited fresh Iran-related developments and priced a 2% chance of a -25 bp FOMC cut at the June 16-17 meeting. Earnings were supportive: 83% of 475 S&P 500 Q1 reporters beat estimates; Q1 S&P 500 earnings are projected up 12% y/y (about +3% excluding tech, weakest in two years). WTI fell over 3%, lifting airlines while weighing energy stocks.

Markets priced a 3% chance of a -25 bp Fed rate cut at the June 16-17 FOMC, while 10-year Treasury yields fell to 4.477% after WTI dropped over 4%. S&P 500 Q1 results: 83% of 475 companies beat estimates; earnings projected +12% y/y (ex-tech +3%). Movers: Zscaler -27% on Q4 revenue guidance; Dycom +29%, Bath & Body Works +15%, MGM +7% on upgrades.

Baker Hughes (BKR) said it extended two multi-year contracts with Equinor for North Sea work. The integrated drilling and well services deal covers mature and greenfield projects using technologies including Kantori™ autonomous well construction and TRU-ARMS™ reservoir mapping. A separate wireline intervention contract expands PRIME Technology Platform services to extend well life and support production optimization and emissions reduction.