Baker Hughes Expects Latam Activity To Remain Constructive, Led By Brazil And Mexico
BKR•Key points from Baker Hughes conference call
- Baker Hughes says energy security is supporting sustained investment across upstream and infrastructure markets.
- The company expects global upstream spending to decline modestly year over year in 2026.
- Baker Hughes says the largest hyperscalers' capex is expected to double from about $370 billion in 2025 to nearly $750 billion by 2028.
- The company sees about $100 billion power systems addressable market opportunity by 2030.
- Baker Hughes says Latam, offshore Africa and North America land growth are offset by weaker spending in Europe and the Mideast.
- The company sees a 1%-2% Q3 IET revenue headwind from the Mideast conflict.
- Baker Hughes expects higher logistics and inflationary pressures at regional facilities from the Mideast conflict.
- The company expects broadly stable Mideast activity and modest Q3 growth across most other markets.
- Baker Hughes expects the Iran conflict impact on some projects and supply chains to be offset by strength elsewhere.
- The company expects seasonal recovery in North America land activity in Q3.
- Baker Hughes expects Latam activity to remain constructive, led by Brazil and Mexico.
