Baker Hughes Announces Third Quarter Results
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October 22, 2015 10:04 AM EDT
UBS reiterated a Buy rating and $70.00 price target on Baker Hughes (NYSE: BHI) following the company's 3Q15 earnings results. 3Q15 EPS of ($0.05) beat the consensus estimates of ($0.14).
Analyst Angie Sedita commented, "We are reducing our 2016 EPS estimates to -$0.20 from $0.11. We are now... More
October 21, 2015 8:03 AM EDT
Baker Hughes (NYSE: BHI) reported Q3 EPS of ($0.05), $0.09 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.79 billion.
In the third quarter, we delivered increased operating profit sequentially, despite deteriorating market conditions and lower revenue," said Martin Craighead, Baker Hughes Chairman and Chief Executive Officer. "Internationally, despite a 4% decrease in revenue we expanded margins across all of our segments as a result of continued cost reductions. In North America, margins declined further driven by ongoing weakness in the U.S. onshore... More
