BHI - Baker Hughes Incorporated

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52 Week Range0.05 - 0.08
Avg. Volume28,028,245
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  • Reuters2 months ago

    GE's Baker Hughes reports surprise negative free cash flow, shares fall

    Oilfield service companies, including bellweather Schlumberger NV and Halliburton Co, are planning to spend less in 2019, following in the footsteps of oil producers who have cut budgets in response to shareholder pressure for capital discipline rather than spending to grow their top line. Baker Hughes on Tuesday posted negative free cash flow of $419 million, compared with analysts' estimates of a positive $188.5 million. Baker Hughes Chief Financial Officer Brian Worrell attributed the reasons for the negative cash flow to annual payments related to employee compensation, delay in realizing some revenue and higher inventory that was built in expectations of more activity in the forthcoming quarters.

  • Reuters7 months ago

    Baker Hughes, GE fall after offering priced at discount

    The 92 million shares of Baker Hughes for sale by GE was priced at $23.00, below the stock's $23.81 closing price on Tuesday, and came a day earlier than planned. GE, which is struggling to rebuild its industrial businesses, said on Tuesday it would sell a portion of its stake in Baker Hughes to repay debt. GE will be able to raise nearly $4 billion from the sale if underwriters exercise options to buy an additional 9.2 million shares, with Baker Hughes repurchasing another 65 million shares in a private transaction at a maximum aggregate of $1.5 billion.

  • Quartz8 months ago

    Hidden indicator? Execs aren’t saying “peak” on earnings calls as much as before

    Corporate America has peaked. More precisely, execs at large US companies aren’t talking about “peaks”—peak sales, peak credit, peak oil, peak anything—as much as they used to on earnings calls and presentations. On a rolling annual basis, peak “peak” peaked late last year, according to a transcript search via Sentieo. In just the past few…

  • CNBC8 months ago

    Saudi Arabia hails multibillion-dollar deals, as fallout from Khashoggi's killing continues

    Saudi Arabia is trying to drown out the noise surrounding journalist Jamal Khashoggi's death by hailing multibillion-dollar business deals this week.

  • Best Energy ETFs & Stocks of Last Week
    Zacks10 months ago

    Best Energy ETFs & Stocks of Last Week

    The energy sector enjoyed a strong surge last week as oil price recorded its weekly gain in two months ending their longest run of weekly losses since 2015.

  • InvestorPlace11 months ago

    Schlumberger Meets Estimates, Expects Continued Profit Growth

    Schlumberger (NYSE:SLB) met expectations in its second-quarter earnings report. The world’s largest oilfield services firm grew both earnings and revenue as exploration and production (E&P) begins its climb from the recent slump in oil prices. Despite increasing SLB earnings, Schlumberger’s stock still trades near multi-year lows.

  • Baker Hughes second quarter profit misses estimate; outlook upbeat
    Reuters11 months ago

    Baker Hughes second quarter profit misses estimate; outlook upbeat

    Baker Hughes, General Electric Co's oilfield services arm, on Friday reported a slight profit miss on weaker revenues in its oilfield equipment and turbomachinery businesses, but delivered an upbeat outlook for the second half of the year. Revenue from its oilfield equipment business, which includes deepwater drilling, fell 9.4 percent to $617 million in the second quarter, missing analysts' estimate of $648.2 million. "North American production is increasing as operators grow rig and well counts, and we are seeing signs of increasing international activity in some geomarkets," Chief Executive Officer Lorenzo Simonelli said.

  • Reuterslast year

    The culture clash behind GE's quick exit from Baker Hughes stake

    When General Electric Co (GE.N) bought oilfield services giant Baker Hughes last July, it created a global industry colossus with $22 billion in annual revenue. GE promised to digitalize oilfields worldwide, marrying its expertise in big data, analytical software and subsea equipment with Baker Hughes' experience in drilling services, chemicals and tools. The retreat comes amid slipping market share, management missteps and culture clashes that have unsettled employees and frustrated suppliers and customers, according to data reviewed by Reuters and interviews with more than 30 employees, former employees, recruiters, analysts, suppliers and customers.