U.S. Markets open in 3 hrs

How Were BHGE and NOV’s Earnings in 1Q18?

Alex Chamberlin
How Were BHGE and NOV’s Earnings in 1Q18?

In this part, we’ll analyze the 1Q18 net income for Baker Hughes, a GE Company (BHGE), and National Oilwell Varco (NOV). In 1Q18, Baker Hughes’s reported net income was $70 million—126% higher compared to the net income in 4Q17. The comparable net income figure in 1Q17 wasn’t available. In 1Q18, Baker Hughes’ss net income was impacted by various charges including $162 million in restructuring, impairment, and other charges, $46 million in merger and related costs, and a $61 million inventory impairment charge.