Stephen Gengaro

Can you just give us an update on how you're thinking about the portfolio optimization strategy going forward

Can you talk a bit more about what this entails and what we should expect to hear from Baker over the next couple of quarters?

Can you talk about the opportunity for Baker on the data center side? And maybe also share thoughts on how you think the macro could impact the IET order flow

I was curious if you could walk us through the moving pieces to get to the 20% target for OFS this year and on the IET side for 2026?

How should we think about sort of the C&I margin progression, given obviously the strong growth

how do you think about just the penetration rates you're seeing and kind of just sort of the growth rate you would expect over kind of a multiyear period

Are you seeing any shift in that? How should we think about this over the next several quarters

Are your customers willing to take diesel if you have any diesel available? How much are they thinking about the price arbitrage

if you think we have enough activity right now to sustain production

do you what do you think about, like, the fourth quarter was stronger than we had thought and there was less downtime

how do you think the competitive landscape has changed? And do you think that aids in your ability to continue to gain share

We're hearing that frac activity is below levels to sustain U.S. production. And I'm just curious kind of in your conversations

what is sort of the pricing strategy to kind of maintain margin in that environment

Can you talk about what you're seeing right now kind of on the pricing side and maybe even if there's any color you could give on how these longer-term contracts

is there any concern around the power gen being pulled out-of-the oil patch in any large ways and then increasing kind of the underlying price for power-to-power e-fleets

is the underlying business plan changing as far as willingness to license the technology

can you talk about the approach, the current approach and if it changed to licensing agreements

the update on how the new [ Atlas Powertrain ] is coming and sort of your confidence in the development

how do you think about the sort of the timing and the puts and takes towards margins moving towards breakeven

Can you tell us where you stand kind of on test drives and what you're seeing maybe just call it qualitatively

how the mix, the gravity mix impacts the progression in gross margins?

Can you talk a little bit about your views on the resiliency of that business versus other parts of the company?

How do we think about you sort of stress testing that against the uncertain macro and sort of preservation of cash and balance sheet

when we think about the -- maybe the margin profile of the different segments in 2025, can you just give us some flavor for how you're thinking

Just your perspective on what's happening in Mexico, what you sort of think about when you think about Mexico and maybe the prospects for a recovery