Baker Hughes Targets Over $50 Billion in IET Orders Through Horizon 2 Strategy
Baker Hughes (BKR) reported strong third-quarter results, characterized by disciplined execution and robust cash generation. CEO Lorenzo Simonelli highlighted the company's ongoing transition toward a higher-value, solutions-led business model, emphasizing progress in its strategic evolution. A key pillar of this growth is the Industrial & Energy Technology (IET) segment, which the company expects to secure more than $50 billion in orders under its 'Horizon 2' strategy. Additionally, management reaffirmed its long-term margin targets for the Chart segment, aiming for a range of 22% to 23% by the second half of 2028.
Tickers: $BKR
Topics: cash generation earnings report financial performance