Baker Hughes Inc. 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.
Zacks Rank: Currently, Baker Hughes has a Zacks Rank #2 (Buy) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Coming to earnings surprise history, the company has a poor track record: its missed estimates in three of the last four quarters at an average rate of negative 31.67%.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Baker Hughes depicted optimism prior to the earnings release. The Zacks Consensus Estimate improved slightly over the last 7 days.
Earnings: Baker Hughes posted narrower loss than the consensus. Loss per share from continuing operations (excluding special items) came in at 15 cents, narrower than the Zacks Consensus Estimate of 43 cents loss per share.
Revenue: Revenues of $2,353 million came below the Zacks Consensus Estimate of $2,430 million.
Key Stats: Of Baker Hughes' total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 28.6%, 22%, 27.6% and 10.3%, respectively. The remainder was generated by the Industrial Services segment.
Check back later for our full write up on this Baker Hughes earnings report later!
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Baker Hughes (BHI) Posts Narrower than Expected Loss in Q3
Baker Hughes Inc. 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.
Zacks Rank: Currently, Baker Hughes has a Zacks Rank #2 (Buy) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Coming to earnings surprise history, the company has a poor track record: its missed estimates in three of the last four quarters at an average rate of negative 31.67%.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Baker Hughes depicted optimism prior to the earnings release. The Zacks Consensus Estimate improved slightly over the last 7 days.
BAKER-HUGHES Price and EPS Surprise
BAKER-HUGHES Price and EPS Surprise | BAKER-HUGHES Quote
Earnings: Baker Hughes posted narrower loss than the consensus. Loss per share from continuing operations (excluding special items) came in at 15 cents, narrower than the Zacks Consensus Estimate of 43 cents loss per share.
Revenue: Revenues of $2,353 million came below the Zacks Consensus Estimate of $2,430 million.
Key Stats: Of Baker Hughes' total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 28.6%, 22%, 27.6% and 10.3%, respectively. The remainder was generated by the Industrial Services segment.
Check back later for our full write up on this Baker Hughes earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>