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Baker Hughes Inc (BHI)

BHI on New York Consolidated

59.37USD
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Baker Hughes sets regular quarterly cash dividend of $0.17 per share
Thursday, 27 Apr 2017 12:02pm EDT 

April 27 (Reuters) - Baker Hughes Inc ::Sets regular quarterly cash dividend of $0.17 per share.  Full Article

Baker Hughes Q1 GAAP loss per share $0.30
Tuesday, 25 Apr 2017 06:30am EDT 

April 25 (Reuters) - Baker Hughes Inc :Baker Hughes announces first quarter results.Q1 GAAP loss per share $0.30.Q1 adjusted non-GAAP loss per share $0.04.Q1 earnings per share view $-0.19 -- Thomson Reuters I/B/E/S.Q1 revenue fell 15 percent to $2.3 billion.Baker Hughes Inc - "looking forward to rest of year, we believe that North America onshore market will continue to grow".Q1 revenue view $2.27 billion -- Thomson Reuters I/B/E/S.Baker Hughes Inc - for international onshore markets, activity has bottomed and we expect it will remain stable, with few pockets of modest growth for FY.Baker Hughes Inc - "we expect there to be headwinds offshore throughout rest of 2017".Baker Hughes Inc - qtrly revenue for upstream chemicals business, grew in line with production volumes.Baker Hughes Inc - qtrly international revenues declined as a result of year-end sales not repeating, seasonal activity reductions, and price deterioration.Baker Hughes Inc - while onshore rig count increase in North America has been more robust than expected, industry still working to absorb excess service capacity.Baker Hughes Inc says for most drilling-related product lines in North America, co believes it is on the cusp of a broader pricing recovery.  Full Article

Baker Hughes average U.S. Rig count for March 2017 was 789, up 45 from 744 counted in Feb.
Friday, 7 Apr 2017 06:00am EDT 

Baker Hughes Inc : Baker Hughes announces March 2017 rig counts . Baker Hughes Inc - average U.S. Rig count for march 2017 was 789, up 45 from 744 counted in February 2017 . Baker Hughes Inc - worldwide rig count for march 2017 was 1,985, down 42 from 2,027 counted in February 2017 . Baker Hughes- international offshore rig count for march 2017 was 197, down 3 from 200 counted in FEB 2017, and down 14 from 211 counted in march 2016 .Baker Hughes Inc - average U.S. Rig count for march 2017 was 789, up 45 from 744 counted in February 2017..  Full Article

Baker Hughes, GE amend transaction agreement to increase board size of Bear Newco to 11 directors - SEC filing
Friday, 31 Mar 2017 12:49pm EDT 

Baker Hughes Inc : Company, GE and certain subsidiaries of company amended certain provisions of transaction agreement as of March 27, 2017 - SEC filing . Transaction agreement with GE amended to provide for increase size of board of Bear Newco Inc from nine to eleven directors . Transaction agreement with GE amended to also increase number of co's designees to board of directors of New Baker Hughes from 4 to 5 .Transaction agreement with GE amended to increase number of GE's designees to board of directors of New Baker Hughes from 5 to 6.  Full Article

Baker Hughes says projects slowdowns in Gulf of Mexico
Tuesday, 28 Mar 2017 10:55am EDT 

Baker Hughes Inc : Project slowdowns in Gulf of Mexico, pricing pressures on new international contracts have been greater than originally anticipated for Q1 .Operating profit for Q1 expected to be stronger than originally forecasted as a result of bad debt reversals in Ecuador.  Full Article

GR Energy Services, Baker Hughes enter into preferred wireline, perforating services agreement
Monday, 13 Mar 2017 11:57am EDT 

Baker Hughes Inc : GR Energy Services and Baker Hughes enter into preferred wireline and perforating services agreement .Agreement initially focusing on provision of wireline services in New Mexico, Texas And Louisiana oilfield markets.  Full Article

Baker Hughes announces February 2017 Rig counts
Tuesday, 7 Mar 2017 06:00am EST 

Baker Hughes Inc : Baker Hughes announces February 2017 Rig counts . Baker Hughes Inc - Average U.S. Rig count for February 2017 was 744, up 61 from 683 counted in January 2017 . Baker Hughes Inc - Average Canadian Rig count for February 2017 was 342, up 40 from 302 counted in January 2017 . Baker Hughes Inc - Worldwide Rig count for Feb 2017 was 2,027, up 109 from 1,918 counted in January 2017, and up 266 from 1,761 counted in February 2016 . Baker Hughes Inc - International Rig count for February 2017 was 941, up 8 from 933 counted in January 2017 .Baker Hughes- International offshore Rig count for Feb 2017 was 200, down 6 from 206 counted in Jan 2017, down 25 from 225 counted in February 2016.  Full Article

GE, Baker Hughes get expected requests for additional information from DOJ
Monday, 6 Mar 2017 04:15pm EST 

General Electric Co : GE and Baker Hughes receive expected requests for additional information from the DOJ . Says GE and Baker Hughes have been working cooperatively with DOJ as it conducts its review of transaction . Says "second requests were issued under Hart-Scott-Rodino antitrust improvements act of 1976, as amended" . Says co, Baker Hughes have each received request for additional information from DOJ in connection with co's pending deal with Baker Hughes . Says effect of second requests is to extend waiting period imposed by Hart-Scott-Rodino act until 30 days after co, Baker Hughes comply with requests .Says GE and Baker Hughes expect transaction to close in mid-2017.  Full Article

Baker Hughes says avg. U.S. rig count for Jan. 2017 was 683
Tuesday, 7 Feb 2017 06:00am EST 

Baker Hughes Inc : Baker Hughes announces January 2017 rig counts . Baker Hughes Inc - international rig count for January 2017 was 933, up 4 from 929 counted in December 2016 . Baker Hughes Inc - average u.s. Rig count for January 2017 was 683, up 49 from 634 counted in December 2016 . Baker Hughes Inc - international offshore rig count for January 2017 was 206, down 4 from 210 counted in December 2016 . Baker Hughes Inc - average Canadian rig count for January 2017 was 302, up 93 from 209 counted in December 2016 . Says worldwide rig count for January 2017 was 1,918, up 146 from 1,772 counted in December 2016 .Baker Hughes Inc - average Canadian rig count for January 2017 was 302, up 93 from 209 counted in December 2016.  Full Article

Baker Hughes Q4 adjusted non-gaap loss per share $0.30
Thursday, 26 Jan 2017 06:30am EST 

Baker Hughes Inc : Baker hughes announces fourth quarter and annual results . Q4 gaap loss per share $0.98 . Q4 earnings per share view $-0.11 -- Thomson Reuters I/B/E/S . Baker hughes inc - in second half of 2016, we reduced annualized costs by nearly $700 million . Q4 adjusted non-gaap loss per share $0.30 . Baker hughes inc - in second half of 2016, paid down $1 billion in debt . Baker hughes inc -"looking ahead for first half of 2017, we expect onshore revenue in north america to increase as our customers ramp up activity" . Baker hughes inc - internationally, we are forecasting activity declines and continued pricing pressure for first half of 2017 . Baker hughes inc - in offshore markets, particularly deepwater, activity declines are expected to be "more severe" for first half of 2017 . Baker hughes - more activity in n. America, uplift from seasonal year-end product sales, pockets of growth internationally, mainly in middle east helped results . Says continue to expect a mid-2017 close for the pending ge oil & gas merger .Baker hughes inc - q4 includes after-tax charges of $291 million, or $0.68 per diluted share, related to asset impairments, restructuring charges.  Full Article

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BRIEF-Baker Hughes sets regular quarterly cash dividend of $0.17 per share

* Sets regular quarterly cash dividend of $0.17 per share Source text for Eikon: Further company coverage: