Edition:
United Kingdom

Baker Hughes A GE Co Says Integration Synergies On Track, With $119 Mln In H2 2017, $700 Mln In 2018


Monday, 26 Mar 2018 

March 26 (Reuters) - Baker Hughes A GE Co ::BAKER HUGHES A GE CO SAYS INTEGRATION SYNERGIES ON TRACK, WITH $119 MILLION IN H2 2017, $700 MILLION IN 2018- SEC FILING‍​.BAKER HUGHES A GE CO - LOOKING AT OIL MARKET, WE SEE GLOBAL DEMAND RISING AT A STEADY PACE‍​‍​.BAKER HUGHES A GE CO - ON GLOBAL GAS TRADE, WE EXPECT LNG DEMAND TO MORE THAN DOUBLE TO 500 MTPA BY 2040, GROWING AT 4-5% PER YEAR.BAKER HUGHES A GE CO CEO SAYS MACRO BACKDROP IS "MORE POSITIVE THAN WHAT WE HAVE SEEN IN SEVERAL YEARS".BAKER HUGHES A GE CO - LOOKING AT THE GAS MARKET, CO SEES SHARE OF ENERGY CONSUMPTION SHIFTING MORE TO GAS OVER NEXT DECADES.BAKER HUGHES A GE CO CEO SAYS SEES CRUDE PRICES RELATIVELY RANGEBOUND IN 2018.BAKER HUGHES A GE CO-EXECUTING PRIORITIES WITH CURRENT EXPECTED MARKET DYNAMICS TO HELP BUSINESS RETURN TO NORMALIZED MARGINS IN MID-TEENS BY LATE 2019.BAKER HUGHES A GE CO - MARKET FORECASTS POINT TO A SUPPLY - DEMAND REBALANCE IN THE 2022 TO 2023 TIMEFRAME.BAKER HUGHES A GE CO CEO SAYS NOW EXPECT MARGINS IN TPS TO BE SLIGHTLY LOWER THAN INITIALLY ANTICIPATED IN Q1.BAKER HUGHES A GE CO - PROJECT CYCLE TIMES IMPLY NEW FIDS WILL BE REQUIRED IN 2018 AND 2019 TO MEET GROWING DEMAND.BAKER HUGHES A GE CO - HAVE $14 BILLION OF SERVICES BACKLOG IN THE TPS SEGMENT.BAKER HUGHES A GE CO- WHILE TIMING MORE DIFFICULT TO PREDICT,RETURN OF MORE NORMALIZED REVENUE LEVELS FOR TRANSACTIONAL SERVICES TO BE ACCRETIVE TO MARGINS.