Tag: Drilling

Energy services company Baker Hughes reported weaker than expected fourth quarter earnings on Monday before the market open. However, $BKR said it had record orders of $8.0 billion for the fourth quarter. Baker Hughes reported fourth-quarter net income of $182 million, or 18 cents a share. On an adjusted basis, BKR earned 38 cents a share, up from 25 cents a share a year before. Last quarter the company reported a loss of $17 million for the second-straight quarterly loss … Continue reading “Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter”

Energy services company Baker Hughes reported stronger than expected third quarter earnings on Wednesday before the market open. The company still reported a loss of $17 million for the three-months for the second-straight quarterly loss this year after making $72 million in the first three months. The company took large charges after pulling out of Russia after the Ukraine invasion. $BKR shares were up 6.2% at $25.67 after the release. Updated: Peers Halliburton reported Tuesday and Schlumberger reported Friday. Baker … Continue reading “Oil Service Giant Baker Hughes says Main Challenges are in the Rearview Mirror”

Energy services company Baker Hughes reported weaker than expected second quarter earnings on Wednesday before the market open. The cited inflation and its suspension of operations in Russia as reasons earnings were negatively impacted. Baker Hughes stock plunged to 25.32 −2.90 (-10.29%) on the result. Peers Halliburton reported Tuesday crushing estimates and predicted years of growth in demand for drilling and Schlumberger reports Friday. Baker Hughes: $BKR Reported Before Open Wednesday Baker Hughes (BKR) Q2 2022 Earnings and Revenues Miss … Continue reading “Oil Service Giant Baker Hughes Losses Widen Hit by Russian Charges and Inflation”