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TPS
tps
Transcript
2022 Q3
20 Oct 22
Operationally, our OFS business is executing well and remains on track to achieve our target of 20% EBITDA in the fourth quarter of 2022.
on trackl for 20% ebitda mgn
Transcript
2022 Q3
20 Oct 22
Looking ahead, we expect continued growth through the end of this year and double-digit international growth in 2023
oilfied services growth outlook
Transcript
2022 Q3
20 Oct 22
Oilfield Services,
oilfield seervices dstrong
Transcript
2022 Q3
20 Oct 22
we announced the restructuring and resegmentation of the company into two reporting segments: OFSE and IET. This resegmentation will simplify and streamline our organizational structure with at least $150 million of cost out and a 25% reduction in the executive management team. These changes will sharpen our focus, improve operational execution, and better position Baker Hughes to capitalize on the quickly changing energy markets.
restructuring details
Transcript
2022 Q3
20 Oct 22
This should support price levels that are conducive to driving double-digit upstream spending growth in 2023. In the natural gas and LNG markets, prices remained elevated as a multitude of factors increased tensions on an already stressed global gas market. Europe’s surging demand for LNG has redirected cargoes from other regions and created an exceptionally tight global market that could get even tighter in 2023. This situation has resulted in record high LNG prices, but has also slowed down switching from coal to gas in some developing countries. We believe that significant investment is still required over the next 5 to 10 years to ensure natural gas’ position as a key part of the energy transition.
gas/russia/europe demand
Transcript
2022 Q3
20 Oct 22
Operators around the world have shown a great deal of financial discipline, which we expect to translate into a more durable upstream spending cycle even in the face of an unpredictable commodity price environment.
constrained spending supportive of grwoth
Transcript
2022 Q3
20 Oct 22
Our second quarter results were mixed as each product company navigated a different set of challenges ranging from component shortages and supply chain inflation to the suspension of our Russian operations.
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Transcript
2022 Q2
22 Jul 22