Lorenzo Simonelli & Baker Hughes

Lorenzo Simonelli: Lorenzo Simonelli, Chairman and CEO of Baker Hughes, announced the completion of the acquisition and highlighted the strategic benefits. He also appointed Jim Apostolides to lead the Chart segment.

Baker Hughes: Baker Hughes completed the acquisition of Chart Industries, expanding its industrial energy portfolio and establishing Chart as a third operating segment. The deal is expected to enhance durable earnings and cash flow, with $325 million in annualized cost synergies targeted within three years.

Lorenzo Simonelli: CEO Lorenzo Simonelli commented on customer focus and the company's strategic direction during the earnings call.

Baker Hughes: Baker Hughes reported strong earnings and record orders, but faces revenue headwinds from Middle East disruptions and lower spending forecasts.

Lorenzo Simonelli: As Baker Hughes' CEO, Simonelli emphasized the growing need for flexible power solutions and the partnership's role in supporting digital infrastructure.

Baker Hughes: Baker Hughes is the supplier, securing a major multi-year order for its gas turbines and generators, reinforcing its position in the power generation market.

Lorenzo Simonelli: Lorenzo Simonelli, Chairman and CEO of Baker Hughes, highlighted the importance of the order for global energy security.

Baker Hughes: Baker Hughes secured a major order for LNG technology, reinforcing its role as a strategic supplier to Venture Global and boosting its backlog.