and pleased on quarter joining Good Thank for us. thanks Jud. for outlook the and were We results XXXX. morning, you, second our remain everyone, with optimistic
slide see momentum order IET As in you our maintained SSPS. four, we and can on
strong $XXX operating cash delivered of segments, Energy end million the generated almost at in free both also We business of our booked and orders New million $XXX higher of approximately guidance results flow.
five, globally. slide economic to growing drive volatility to Turning uncertainty commodity price continues
expected outlook is lower markets. despite America offshore upstream global for spending strength constructive be year, oil in in in offset a North by However, prices Market and maintain over the the more of we international XXXX. softness than first-half to
cycles. capital on focus that less swings on a industry, and this sheets said to to have growth. more cycle versus and break relative This sensitive low spending durable disciplined strong due commodity we evens the we balance to based expect price across returns is is asset spending As previously, to prior be
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upstream optimistic remain outlook, growth by Asia. of on Europe Outside the with we and solid led year the LNG this demand markets,
fact, a first-half the decline of prices In MTPA year, levels agreements same XX LNG long-term period in slightly offtake in over XX% despite above of over XXXX. over contracted the are the contracting
recent X in so XX FIDs, The LNG industry totaled Rio contracts key of been of North now year. which project. continued and long-term has far Decade’s a MTPA driver the XX.X project South Next Phase Field momentum FIDs have for XX includes the MTPA this strength This MTPA in QatarEnergy’s Grande
of to continued level of see pipeline, and this a on we XX similar development XXXX. MTPA the FIDs expect in exceed Based LNG still should the project the year market of activity
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objective processes we levels As organization the next XX% years. cost and install our with redesign to continue is the EBITDA systems, continued segment productivity, business over each to for new our goal and drive exceeding few ultimate of
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fact, unique we Energy are future in for collaborating In of New a the of of key customers early on our stages technologies applications. that range leverage with opportunities set
ammonia storage we in drilling and steam well where and COX monitoring blue as and example, COX solutions, compression for we turbines, CCUS Other COX drill and and For provide wells. drill as projects, where include provide geothermal provide can solutions reservoirs ammonia expertise. compression the geothermal wells COX evaluate of power, and we storage
leverage the Overall, excited for our margins our and am developing I forward. about these our unique extremely of portfolio. combining opportunities for believe, We going business transformation attractive with solutions returns new that growth opportunities objectives upside multitude provides
these I well XX% will of an encouraged and slide positioned market unfolding from each of eight, Equipment, particularly our Oilfield to focused, internationally in we continue In remain our dynamics. multi-year Turning international to to With provide by to around on markets, cycle be business exposed offshore, OFSE segments. & the in benefit update XX% approximately business basins. we Services offshore
to particular in most strong Africa areas, the international a the America East. of in On to see Sea, Mediterranean. with U.K. that and area basis, markets to as lag signs Latin promising across continue uncertainty in we markets regional is growth such pace strength and are Eastern where One West fiscal hampering developments. no the and continues North is Middle We the experiencing activity change see
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first-half of been gas basins. However, largely the limited of the impact and private the in operators year volatility the of activity to price has in
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reduces offers early conventional awards boosting the key with the in rig, time, commercial AccessESP ESP well winning a technology, the East. The need alternative we without performance. recently two an had for quarter, success emissions heavy workover AccessESP which efficient costs acquired our and Middle During customers to while installations system with
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and trains centrifugal secured During trains. our the & including year-over-year quarter and awards Middle momentum quarter, strong the IET led Orders multiple by in in supply pump maintained the businesses Pumps, compressor in growth East, and syngas Technology Inspection. Valves orders X% to Industrial second Gears, with ammonia
agreement Orbit management In XX monitoring Monitoring support offshore and security systems, wireless software, for Condition as deliver and business, Ranger we Bently Malaysia. secured and software, includes The Nevada’s enhancements, an to monitoring well System a scope as and asset hardware, our floating project Pro X monitoring cyber project LNG services services. condition system, protection end-to-end
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are diverse developing Fresh Baker drive has as Hughes innovative critical Baker forward. heart XX ideas and this To and enhanced more for at metrics its people unique driving retaining, inclusive new to talent. are over and was continues progress. the recognized going workplace, with competitiveness for transparency experiences end, of strive attracting, company’s perspectives, and any a to help Hughes to reporting
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also categories of now reporting are We Scope XX emissions. on X
operate sight sustainable not continue energy a our challenging backdrop more and customers global complex supporting our in transition goal that we lost energy to have am a Against way. the and I their while of environment, on of we responsible proud journeys,
remain we will structural as and well across Baker on are the changes excited our I we opportunities outlook Overall, the all organization. across confident on Hughes as implementing execute growth very for business, the our
With that, turn will the call to Nancy. over I
