The oilfield equipment and services provider reported an adjusted loss of $50 million, or $0.07 per share, in the quarter ending Dec. 31. Analysts had been looking for adjusted earnings of $0.17 per share.
"This could be the one that gets me," says Andrew Graham, a 20-year Schlumberger veteran cut in April.
The company has cut its 2020 budget by over 20% from the prior year and is restructuring its operations to adjust to declining activities.
Baker Hughes in its current form originated in 2017 from the merger of Baker Hughes with GE Oil & Gas. Baker Hughes' history of oilfield innovation stretches back over a century, and with the combination with GE, the company now can offer the full spectrum of services to oil and gas companies, from upstream to downstream.
| Website: | www.bakerhughes.com |
| Email: | investor.relations@bakerhughes.com |
| Main Phone: | +1 713 439-8600 |
| Address: | 17021 Aldine Westfield Road |
| State: | TX |
| City / Town: | Houston |
| Country: | US |
| Postal Code: | 77073-5101 |
| Exchange: | NYE |
| CEO: | Lorenzo Simonelli |
| Employees: | 55000 |
| NAICS: | Support Activities for Oil and Gas Operations(213112) |
The oilfield equipment and services provider reported an adjusted loss of $50 million, or $0.07 per share, in the quarter ending Dec. 31. Analysts had been looking for adjusted earnings of $0.17 per share.
"This could be the one that gets me," says Andrew Graham, a 20-year Schlumberger veteran cut in April.
The company has cut its 2020 budget by over 20% from the prior year and is restructuring its operations to adjust to declining activities.
The company's capital outlay cuts of $800 million are the steepest by a major energy company so far. Halliburton will reduce other costs by about $1 billion. It has laid off hundreds and furloughed thousands of workers.
| Last Price N/A | Change $ N/A | Change % N/A | Tick N/A |
| Bid N/A | Bid Size N/A | Ask N/A | Ask Size N/A |
| Open N/A | High N/A | Low N/A | Prev Close N/A |
| Last Trade | Volume N/A | 52 Wk Hi N/A | 52 Wk Low N/A |
| Market Cap N/A | Ex-Div Date N/A | Div Rate N/A | Yield N/A |
| Shares N/A | EPS (TTM) N/A | PE Ratio N/A | Exchange N/A |
| Current | 1 Week Ago | 2 Weeks Ago | 3 Weeks Ago | |
|---|---|---|---|---|
| High Target Price Estimate | 40 | |||
| Low Target Price Estimate | 25 | |||
| Mean Target Price Estimate | 31.08 | |||
| Standard Deviation | 4.33 | |||
| Date of Most Recent Estimate | 10/18/19 |
| Form Type | Form Description | Pages | Date |
|---|---|---|---|
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-19 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-19 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-19 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-19 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| 4 | Statement of changes in beneficial ownership of securities | 1 | 2012-06-01 |
| Current | 1 Month Ago | 2 Months Ago | 3 Months Ago | |
|---|---|---|---|---|
| Strong Buy | 13 | 13 | 13 | 13 |
| Moderate Buy | 0 | 1 | 1 | 1 |
| Hold | 1 | 1 | 2 | 2 |
| Moderate Sell | 0 | 0 | 0 | 0 |
| Strong Sell | 0 | 0 | 0 | 0 |
| Mean Rec. | 1.14 | 1.2 | 1.31 | 1.31 |
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