Baker Hughes Ups Q4 Adjusted Earnings, But Misses Forecast

Baker Hughes has reported profit of $48 million or 7 cents per share on GAAP basis for the quarter ended December 31, 2019.

The result compares with $131 million profit in Q4 2018, and $57 million profit sequentially.

Adjusted net income (non-GAAP) attributable to Baker Hughes was $179 million, up 49% from same time last year. Adjusted diluted earnings per share were 27 cents per share, missing by 4 cents by analyst estimate.

Revenue for the quarter was $6.35 billion, an increase of 1% year-over-year, and also up 8% sequentially, but down some $120 million than the analyst estimated.

Orders for the quarter were $6.94 billion, down 11% sequentially and up 1% year-over-year.

For the full year 2019, Baker Hughes generated profit of $128 million on revenue of $23.8 billion, against profit of $195 million on revenue of $22.9 billion in 2018.

Total orders for 2019 were close to $27 billion, versus $23.9 billion in 2018.

Subsea World News Staff