January 24, 2018 / 12:00 PM / 6 months ago

BRIEF-Baker Hughes, A GE Co, Reports GAAP Net Loss Per Share Of $0.07 For Q4

Jan 24 (Reuters) - Baker Hughes A Ge Co:

* BAKER HUGHES, A GE COMPANY ANNOUNCES FOURTH QUARTER AND TOTAL YEAR 2017 RESULTS

* GAAP NET LOSS PER SHARE OF $0.07 FOR QUARTER

* IN OILFIELD EQUIPMENT SEGMENT, SUBSEA MARKET REMAINS “CHALLENGING” WITH LOW ACTIVITY LEVELS AND PRICING CHALLENGES

* IN OILFIELD EQUIPMENT SEGMENT, EXPECT TREE AWARDS TO CONTINUE TO GROW IN 2018, THOUGH AT A SLOWER RATE THAN IN 2017

* IN OILFIELD EQUIPMENT SEGMENT, ‍CONTINUE TO EXPECT OFFSHORE ACTIVITY TO BE MUTED IN SHORT TERM​

* EXPECT ACTIVITY IN LNG SPACE TO INCREASE AS CUSTOMERS POSITION TO MAKE NEW CAPACITY AVAILABLE IN 2022 AND BEYOND

* OVERALL, CONTINUE TO SEE IMPROVEMENT IN ACTIVITY AS EARLY INDICATIONS OF CUSTOMER CAPITAL SPENDING IN 2018 ARE “ENCOURAGING”

* SUBSEA MARKET CONTINUES TO BE CHALLENGING AND ACTIVITY REMAINS LOW, WITH PRICES CONTINUING TO BE PRESSURED

* IN TURBOMACHINERY & PROCESS SOLUTIONS SEGMENT, ON-OFFSHORE PRODUCTION DRIVEN DEMAND IS IMPROVING

* ‍BACKLOG GREW IN Q4, WHICH ENDED AT $21.0 BILLION, AN INCREASE OF $0.1 BILLION OR 1% FROM Q3 OF 2017​

* INTERNATIONAL ACTIVITY IS STABILIZING, SEEING SIGNS OF ACTIVITY INCREASE BOTH IN VOLUME AND SIZE OF TENDERS FOR NEW WORK

* ‍INCLUDED IN TAX EXPENSE FOR QUARTER, IS A $132 MILLION BENEFIT RELATED TO RECENT UNITED STATES TAX REFORM​

* IN OILFIELD SERVICES SEGMENT, ALL PRODUCT LINES GREW IN NORTH AMERICA IN QUARTER, DESPITE RIG COUNT BEING DOWN VERSUS Q3

* IN OILFIELD SERVICES SEGMENT, ASIA PACIFIC RIG COUNT SAW AN INCREASE IN Q4 AFTER HAVING BEEN FLAT MUCH OF YEAR

* Q4 EARNINGS PER SHARE VIEW $0.14 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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