2024-07-26 12:47:11 ET
Baker Hughes Company (BKR)
Q2 2024 Results Conference Call
July 26, 2024 09:30 AM ET
Company Participants
Chase Mulvehill - VP, IR
Lorenzo Simonelli - Chairman and CEO
Nancy Buese - CFO
Conference Call Participants
Luke Lemoine - Piper Sandler
David Anderson - Barclays
James West - Evercore
Arun Jayaram - JPMorgan Securities
Stephen Gengaro - Stifel
Presentation
Operator
Good day, ladies and gentlemen, and welcome to the Baker Hughes Company Second Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call is being recorded.
I would now like to introduce your host for today's conference, Mr. Chase Mulvehill, Vice President of Investor Relations. Please go ahead, sir.
Chase Mulvehill
Thank you. Good morning, everyone, and welcome to Baker Hughes second quarter earnings conference call.
Here with me are Chairman and CEO, Lorenzo Simonelli; and our CFO, Nancy Buese. The earnings release we issued yesterday evening can be found on our website at bakerhughes.com. We will also be using a presentation with our prepared remarks during this webcast, which can be found on our investor website.
As a reminder, during the course of this conference call, we will be provide forward-looking statements. These statements are not guarantees of future performance and involve a number of risks and assumptions. Please review our SEC filings and website for the factors that could cause actual results to differ materially. Reconciliations of operating income and other GAAP to non-GAAP measures can be found in our earnings release.
With that, I'll turn the call over to Lorenzo.
Lorenzo Simonelli
Thank you, Chase. Good morning, everyone, and thanks for joining us.
We delivered outstanding second quarter results, highlighted by strong operational performance across the company. Our IET performance benefited from excellent execution of its robust backlog. In OFSE, results were supported by a solid seasonal recovery in the Eastern Hemisphere, portfolio resilience in North America and added success in driving enhanced cost efficiencies across the business.
We continue to improve our operational consistency, as this marks the sixth consecutive quarter of meeting or exceeding the midpoint of our quarterly EBITDA guidance....
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Baker Hughes Company (BKR) Q2 2024 Earnings Call Transcript