Baker Hughes Tops Q2 Earnings and Revenue Estimates

- Baker Hughes Tops Q2 Earnings and Revenue Estimates



Jul 25, 2011

Baker Hughes (NYSE:BHI) reported Q2 EPS of 93 cents, topping consensus estimates of 91 cents. Revenue rose 41% year-over-year to $4.74 billion, better than the $4.55 billion analysts were expecting.

Adjusted EBITDA in the second quarter 2011 was $1.02 billion, up $63 million sequentially.

Chad Deaton, chairman and CEO, said, "Our performance was solid this quarter with steady improvement of our international profit margin. As expected, the sequential profit improvement in US Land and the Gulf of Mexico nearly offset the seasonal decline in Canada."

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Baker Hughes Reports Solid Results, Beats EPS By $0.09

Baker Hughes Reports Solid Results, Beats EPS By $0.09



Apr 27, 2011

Baker Hughes (NYSE:BHI) reported EPS of $0.87 today, beating the consensus estimate for $0.78 per share. Revenue for the quarter was up 78% year-over-year to $4.53 billion, beating the consensus estimate for $4.28 billion. The year ago quarter does not included the results of BJ Services, which Baker Hughes acquired at the end of April 2010.

Chad C. Deaton, Baker Hughes chairman and chief executive officer, said, "International margins continued to improve in the first quarter, despite weather and geopolitical disruptions, as we made steady progress towards our goal of exiting 2011 with international operating margins in the mid-teens. The foundation of our improvement plan has been managing costs and improving efficiency, which have driven the increase in profitability we have seen to date. As we move towards the second half of 2011, activity growth becomes a more important driver of future improvement.