Sign in

    David Anderson • Barclays PLC

    David Anderson's questions to National Energy Services Reunited Corp (NESR) leadership

    David Anderson's questions to National Energy Services Reunited Corp (NESR) leadership • Q2 2025

    Question

    David Anderson inquired about the moving parts in the Q3 and Q4 guidance, the early outlook for MENA in 2026, the status of the Jafora contract awards, and the potential for share buybacks.

    Answer

    CFO Stefan Angeli confirmed Q3 revenue would be flat with Q2, but Q4 would see an uptick, leading to full-year 2025 revenue exceeding 2024. CEO Sherif Fota added that MENA activity will increase in 2026, driven by Saudi Arabia, Kuwait, and North Africa. Regarding Jafora, Mr. Fota stated the contracts are in evaluation and should be announced in the coming months. On capital returns, Mr. Angeli explained that the company will first complete its debt refinancing and assess CapEx needs before considering buybacks at year-end.

    Ask Fintool Equity Research AI

    David Anderson's questions to Ormat Technologies Inc (ORA) leadership

    David Anderson's questions to Ormat Technologies Inc (ORA) leadership • Q1 2025

    Question

    David Anderson posed a conceptual question on how Ormat intends to capture the current high PPA price environment, given its limited near-term contracting opportunities, asking about levers like M&A, greenfield development, EGS, and the Schlumberger partnership.

    Answer

    Executive Doron Blachar explained that the main strategies to capture high PPA prices are through new greenfield projects expected to come online from 2028 and the recontracting of existing assets like Blue Mountain. He confirmed a significant increase in exploration activities to support this. He also mentioned the Schlumberger partnership is focused on co-developing projects, which would boost Ormat's product sales and potentially its electricity segment growth.

    Ask Fintool Equity Research AI

    David Anderson's questions to Aspen Aerogels Inc (ASPN) leadership

    David Anderson's questions to Aspen Aerogels Inc (ASPN) leadership • Q1 2025

    Question

    David Anderson of Barclays asked about the trend of lower content per vehicle in the EV thermal barrier business, its relation to the new GM LFP contract, and posed a strategic question regarding the potential for European market expansion versus the U.S. market.

    Answer

    CFO Ricardo Rodriguez explained that content per vehicle is expected to decrease with the adoption of prismatic cells, but this allows for better CapEx payback by sharing equipment across OEMs. President and CEO Don Young emphasized that new form factors are additive to an expanding market. Regarding Europe, Rodriguez noted a preference to supply from Mexico to leverage existing investments, while Young highlighted that European OEM partners are dedicated to electrification and will help diversify Aspen's customer base.

    Ask Fintool Equity Research AI

    David Anderson's questions to Chart Industries Inc (GTLS) leadership

    David Anderson's questions to Chart Industries Inc (GTLS) leadership • Q1 2025

    Question

    David Anderson asked about the drivers behind the exceptionally strong orders in the aftermarket (RSL) business and questioned the potential risks to that segment if economic uncertainty caused customers to delay spending.

    Answer

    CEO Jillian Evanko attributed the strong RSL orders to broad-based demand in both retrofits/service and spares, with a particularly strong quarter in the Americas and two larger projects in mining and CCUS. Both she and CFO Joseph Brinkman expressed confidence in the segment's resilience, noting that while a retrofit could be delayed, the mission-critical nature of the installed base makes maintenance and spares spending non-discretionary and less cyclical.

    Ask Fintool Equity Research AI

    David Anderson's questions to Tenaris SA (TS) leadership

    David Anderson's questions to Tenaris SA (TS) leadership • Q1 2025

    Question

    David Anderson sought insight into how volumes might progress in the second half of the year if oil prices and tariffs remain stable, and asked if the offshore component of the business is expected to grow into late 2025 and 2026.

    Answer

    Chairman and CEO Paolo Rocca noted it was too early for a precise prediction but highlighted the resilience of Tenaris's client portfolio, which consists mainly of major operators with long-term programs. Chief Operating Officer Gabriel Podskubka affirmed the offshore market's strength, citing a high backlog and significant project wins like Shell's Bonga project in Nigeria, and expects the segment to remain very resilient through 2025 and into 2026.

    Ask Fintool Equity Research AI

    David Anderson's questions to Halliburton Co (HAL) leadership

    David Anderson's questions to Halliburton Co (HAL) leadership • Q1 2025

    Question

    David Anderson asked about the growth outlook for Halliburton's portfolio in Saudi Arabia for the year and questioned the margin progression after a decline in Q1 and weaker guidance for Q2, seeking clarity on the full-year outlook.

    Answer

    CEO Jeffrey Miller confirmed that Halliburton expects its portfolio in Saudi Arabia to grow in 2025, driven by opportunities like Jafurah and the strength of its growth engines in unconventional, intervention, and artificial lift. CFO Eric Carre addressed margins, explaining the Q2 D&E margin decline was due to specific items like tariffs and mobilization costs, not a new run rate. He projected that second-half 2025 margins would be in the 'same ZIP code' as the second half of 2024.

    Ask Fintool Equity Research AI

    David Anderson's questions to TechnipFMC PLC (FTI) leadership

    David Anderson's questions to TechnipFMC PLC (FTI) leadership • Q4 2024

    Question

    David Anderson from Barclays sought clarity on the offshore market outlook, contrasting differing views from drillers and service companies, and asked for more color on tendering activity, particularly regarding project types and the sustainability of the $10 billion annual inbound target.

    Answer

    CEO Douglas Pferdehirt dismissed concerns of a slowdown, stating that any issues are company-specific, not industry-wide. He affirmed that 2026 activity will be more significant than 2025, with no plateau in sight. He detailed strong tendering across mature markets like the U.S. Gulf of Mexico and Brazil, emerging basins like Suriname and Namibia, and a solid base of brownfield projects, expressing confidence in the multi-year outlook.

    Ask Fintool Equity Research AI

    David Anderson's questions to Baker Hughes Co (BKR) leadership

    David Anderson's questions to Baker Hughes Co (BKR) leadership • Q4 2024

    Question

    David Anderson inquired about the 2025 outlook for the Oilfield Services & Equipment (OFSE) segment, asking for a breakdown of how different business components would perform and what was driving the forecast for a slight revenue decline.

    Answer

    Chairman and CEO Lorenzo Simonelli confirmed a conservative outlook for OFSE in 2025, anticipating a mid-single-digit spending decrease in North America and a flat-to-down international market. He noted softness in Mexico and Saudi Arabia would be partially offset by Brazil and other Middle Eastern regions. Simonelli emphasized that the company's production-weighted portfolio provides resilience against these market trends.

    Ask Fintool Equity Research AI

    David Anderson's questions to Cactus Inc (WHD) leadership

    David Anderson's questions to Cactus Inc (WHD) leadership • Q3 2024

    Question

    David Anderson inquired about the drivers behind the volatility in sales per rig within the Pressure Control segment. He also asked for a historical perspective on the 2018 tariffs, questioning if they drove the revenue-per-rig increase in 2019-2020 and what might be done differently now.

    Answer

    Chairman and CEO Scott Bender explained that revenue-per-rig volatility is primarily caused by lumpy and unpredictable customer call-offs for production trees. Regarding the 2018 tariffs, Mr. Bender and President Joel Bender clarified that a tariff exclusion, which lasted 12-18 months, had a significant positive impact, rather than the tariffs themselves. Scott Bender reiterated his belief in a low-cost manufacturing source but stressed the current geopolitical risks from China must be addressed.

    Ask Fintool Equity Research AI