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MarketScreener Homepage  >  Equities  >  Nyse  >  Baker Hughes Company    BKR

BAKER HUGHES COMPANY

(BKR)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 01/19 09:56:17 am
22.94 USD   +0.31%
09:06aHalliburton profit beats estimates on cost cuts, demand recovery
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07:00aHalliburton profit beats estimates on cost cuts, demand recovery
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01/18BAKER HUGHES COMPANY : annual earnings release
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Baker Hughes : Foundation Contributes $250,000 to The Nature Conservancy for Nature-Based Climate Solutions

12/03/2020 | 05:13am EST

Global grant will support sustainable forestry and land management practices in sensitive 'last chance' ecosystems.

Grant aligns to Baker Hughes Foundation's goal of advancing environmental quality

The Baker Hughes Foundation has announced a $250,000 grant to The Nature Conservancy to support nature-based climate solutions in sensitive 'last chance[1]' ecosystems in Indonesia. The funds will contribute toward reducing carbon emissions and aid in sequestering carbon stocks through the implementation of reduced-impact logging (RIL-C[2]) standards and other programs in the East Kalimantan and North Kalimantan provinces.

Indonesia was selected as a location for the grant because it is home to some of the world's highest biodiversity and provides some of the world's most cost-effective opportunities for nature-based climate mitigation. Baker Hughes operates substantial commercial and service operations in Indonesia, with more than 800 employees.

The programs funded by the grant have the potential to reduce millions of tons of CO2 equivalent over a period of years. This project builds on previous grant partnerships between the Baker Hughes Foundation and The Nature Conservancy that have supported biodiversity, water quality and climate solutions.

'Baker Hughes is committed to reducing global carbon emissions through our products and services, and also through our partnership with organizations like The Nature Conservancy,' said Lorenzo Simonelli, chairman and CEO of Baker Hughes. 'Nature-based climate solutions play an important role in helping companies and governments address climate change, and Indonesia provides one of the most significant opportunities for addressing climate impact in the world today.'

'We are thankful for Baker Hughes's continued support of forest conservation work that can meaningfully reduce carbon emissions through smart land use strategies, strengthened policy and reduced-impact forestry,' said William McGoldrick, regional managing director of The Nature Conservancy'sAsia Pacific region. 'Combined with Baker Hughes's past support for community-based forest conservation, this grant can help turn our collective vision for sustainable forest management into reality.'

To learn more about Baker Hughes' work in supporting its communities, visit our Corporate Responsibility website.

About the Nature Conservancy

The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 79 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.

About the Baker Hughes Foundation

For 25 years, the Baker Hughes Foundation has been a steward of charitable resources for meaningful community impact. The Foundation seeks to advance environmental quality, education, health, safety, and wellness around the world by supporting organizations with shared values, demonstrated leadership, evidence of impact, financial soundness, and the capacity to implement initiatives and evaluate their success. The Baker Hughes Foundation makes strategic philanthropic contributions, matches Baker Hughes employee contributions, and awards volunteer recognition grants for outstanding employee community service.

About Baker Hughes

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward - making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

[1] Last chance' ecosystems, as defined by The Nature Conservancy, provide a global, science-based picture to help identify the most important places for protection. They are places which, if conserved, will reduce extinction rates and protect the best representations of the least-protected global habitat types on Earth.

[2] RIL-C logging practices reduce carbon emissions without reducing forest production through practices such as narrowing the width of logging roads, leaving hollowed trees standing, and taking greater care in the direction of tree felling to reduce forest damage.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 20 550 M - -
Net income 2020 -13 135 M - -
Net Debt 2020 3 639 M - -
P/E ratio 2020 -1,43x
Yield 2020 3,19%
Capitalization 15 685 M 15 685 M -
EV / Sales 2020 0,94x
EV / Sales 2021 0,93x
Nbr of Employees 58 000
Free-Float 63,4%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 24,91 $
Last Close Price 22,87 $
Spread / Highest target 61,8%
Spread / Average Target 8,91%
Spread / Lowest Target -23,5%
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Managers and Directors
NameTitle
Lorenzo Simonelli Chairman, President & Chief Executive Officer
Uwem Ukpong Executive Vice President-Global Operations
Brian Worrell Chief Financial Officer
Jennifer Hartsock Chief Information Officer
Gregory D. Brenneman Independent Director
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