Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter

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”

Oil Service Giant Baker Hughes says Main Challenges are in the Rearview Mirror

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”

General Electric Earnings Higher Driven by Aerospace Segment

General Electric Second Quarter results beat EPS and revenue expectations. GE’s Aerospace segment saw 26% order growth which led to the company’s largest EPS beat in over five years and helped it to generate positive free cash flow of $200 million. GE is still forecasting growth of more than 20% and operating profit of $3.8-$4.3 bln for GE Aerospace. GE is on track to create three independent companies: GE Aerospace, GE HealthCare, and GE Vernova, GE’s portfolio of energy businesses. … Continue reading “General Electric Earnings Higher Driven by Aerospace Segment”

Oil Service Giant Baker Hughes Losses Widen Hit by Russian Charges and Inflation

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”

Global Supply Chain Contagion Hits Oil Service Firm Baker Hughes Earnings

Energy services company Baker Hughes,reported weaker than expected third quarter earnings on Wednesday before the market open. Oilfield services were negatively impacted by Hurricane Ida and supply chain problems. $BKR peers Halliburton reported Monday and Schlumberger reports Friday.

General Electric Shares Continue To Rise After Stronger Earnings Than Expected

General Electric reported better than expected fourth quarter earnings before the open Wednesday. $GE Shares continued to recover, rising  10% to be up nearly 50% in the past 12 months to its highest level since October 2018.

General Electric Miss Earnings, Cut Dividend as SEC Probe Widens

General Electric reported weaker than expected third quarter earnings before the open Tuesday. $GE also slashed its dividend to a penny  also an SEC probe into its accounting practices widened. GE fell to a new seven year low on the negative news flood.

Baker Hughes GE Gives Robust Macro Outlook For Oil and LNG

Energy services company Baker Hughes, a GE Co. reported second quarter earnings on Friday before the market opened. $BHGE showed a slight miss on weaker revenue but gave a robust outlook on the macro oil structure. Parent General Electric $GE also reported earnings this morning.