Baker Hughes (BKR) Q3 earnings: what to expect
Energy technology company Baker Hughes (NASDAQ:BKR) will be reporting earnings this Tuesday after the bell. Here’s what you need to know.
Baker Hughes beat analysts’ revenue expectations last quarter, reporting revenues of $6.74 billion, down 2.4% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Baker Hughes a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Baker Hughes’s revenue to grow 10.9% year on year, improving from the 1.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Baker Hughes has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Baker Hughes’s peers in the oilfield services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. SLB delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 1.7%, and Halliburton reported revenues up 1.8%, topping estimates by 2.1%. Halliburton traded up 3.1% following the results.
Read our full analysis of SLB’s results here and Halliburton’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 5.2% on average over the last month. Baker Hughes is down 2.5% during the same time and is heading into earnings with an average analyst price target of $70.63 (compared to the current share price of $55.67).
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Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
