Baker Hughes Inc. (BHI – Analyst Report) 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 #3 (Hold) but that could change following its fourth 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 posted wider loss than the consensus. Loss per share from continuing operations (excluding special items) came in at 21 cents, higher than the Zacks Consensus Estimate of 10 cents loss per share.
Revenue: Revenues of $3,394 million came below the Zacks Consensus Estimate of $3,528 million.
Key Stats: Of Baker Hughes’ total quarterly revenue, North America, Europe/Africa/Russia/Caspian, Middle East/Asia-Pacific and Latin America accounted for 34%, 21%, 24% and 13%, respectively. The remainder was generated by the Industrial Services segment. North America recorded a loss before-tax margin of 11.2% (flat with the year-earlier quarter) and the Industrial Services segment registered a pre-tax margin of 7.7% (versus 13.0%). Pre-tax margins at Europe/Africa/Russia/Caspian segment came in at 6.6% (versus 12.4% in the year-earlier quarter) and Middle East/Asia-Pacific region margin was 3.8% (versus 9.0%). Finally Latin America registered pre-tax margins at 3.5% (versus 11.6% profit before tax margin).
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