Baker Hughes Co. (BKR) Q4 2019 Earnings Call Transcript

Baker Hughes Co. (BKR) Q4 2019 Earnings Call Transcript

Good day, ladies and gentlemen and welcome to the Baker Hughes Company Fourth Quarter and Full Year 2019 Earnings Call.. Good morning everyone and welcome to the Baker Hughes Company fourth quarter and full year 2019 earnings conference call.. We delivered a solid fourth quarter with strong orders in our Turbomachinery and Oilfield Equipment segments, solid operating performance from our TPS business, strong free cash flow and better execution in our Digital Solutions business.. For the full year of 2019, we achieved a number of key milestones, including 20% year-over-year order growth in TPS, almost 300 basis points of margin improvement in TPS, 12% order growth in OFE and free cash flow of $1.2 billion.. As we have stated previously, Baker Hughes is firmly committed to playing a leading role in a lower carbon future.. We believe that natural gas demand will grow at more than twice the pace of oil over the next 10 years and that LNG demand growth will be higher still at an annual rate of 4% to 5%.. , we see three new technology areas emerging as part of the Energy Transition, for which our Digital Solutions segment is uniquely positioned.. We continue to believe