Baker Hughes (BKR) Bank of America Global Industrials Conference summary

Leadership and strategic direction

• CFO transition aligns with the company's multi-horizon growth plan, focusing on profitable growth and synergies between segments.

• Ahmed, the incoming CFO, brings deep company experience and will drive financial simplification and growth initiatives.

• Capital Markets Day on September 4th will outline the next three years and Horizon Three strategy.

Business model and differentiation

• The company has evolved into an energy and industrial technology leader, focusing on less cyclical, production-oriented services.

• Strong presence in natural gas and LNG, with a diversified portfolio including gas infrastructure, compression, and power solutions.

• Differentiation comes from mission-critical equipment, long-term customer partnerships, and a broad value chain perspective.

Market outlook and growth opportunities

• Natural gas is positioned as a destination fuel, with a $140B addressable market and strong LNG demand through 2035.

• Global LNG capacity is on track to exceed 800 million tons by 2030, with robust project pipelines in the U.S., Qatar, Africa, and Asia.

• Data center power demand is rising, driving opportunities for distributed power solutions and CCS integration.

• New Energy business targets $6-7B in orders by 2030, focusing on CCUS, hydrogen, geothermal, and emission abatement.