Saipem Slashes 2026 Outlook, Baker Hughes Flags Gulf Conflict Hit
BKR sits 45% above its 52-week low of $41.96.
Summary
Saipem cut its 2026 EBITDA forecast by 8% to €1.75B, citing Gulf conflict disruption, and shares fell over 8%. Baker Hughes warned on Monday that the same conflict would reduce its IET division revenue by 1-2% and increase logistics and inflation pressures in Q3. This follows Baker Hughes' strong Q2 beat and raised guidance just yesterday, but the conflict headwinds are a new negative development. The Strait of Hormuz closures are driving up costs and delaying projects across the sector. Baker Hughes shares have gained nearly 6% this week on the Q2 beat, but the conflict impact may pressure near-term margins.
At the time of this announcement, BKR was trading at $60.95 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $60.1B. The 52-week trading range was $41.96 to $70.41. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.