Baker Hughes Inc. BHI is one of the major oilfield service companies in the world, providing a range of services to the global oil and gas industry. The company is a major supplier of wellbore-related products and technology services and systems. It caters to drilling, pressure pumping, formation evaluation, completion and production, and reservoir technology. It also offers consulting services to the worldwide oil and natural gas industry.
Currently, Baker Hughes has a Zacks Rank #4 (Sell) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Baker Hughes bottom line came above the consensus. Loss per share from continuing operations (excluding special items) came in at 5 cents, better than the Zacks Consensus Estimate of 15 cents loss per share.
Revenue: Revenues of $3,786 million came below the Zacks Consensus Estimate of $3,794 million.
Key Stats: Of Baker Hughes' total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 36%, 21%, 22% and 12%, respectively. The remainder was generated by the Industrial Services segment. North America recorded a loss before-tax margin of 12.4% (compared with profit before tax margin of 12.0% in the year-earlier quarter) and the Industrial Services segment registered a pre-tax margin of 11.8% (versus 10.5%). Pre-tax margins at Europe/Africa/Russia/Caspian segment came in at 11.4% (versus 8.2% in the year-earlier quarter) and Middle East/Asia-Pacific region margin was 8.1% (versus 14.4%). Finally Latin America registered pre-tax margins at 10.9% (versus 12.4% profit before tax margin).
Check back later for our full write up on this Baker Hughes earnings report later!
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