baker hughes inc (BHI) Key Developments
Siemens Reportedly Plans To Bid For Assets Of Halliburton
Apr 24 15
Siemens Aktiengesellschaft (DB:SIE) is reportedly planning to bid for the assets of Halliburton Company (NYSE:HAL) worth up to $10 billion. As per the report, the other potential bidders are General Electric Company (NYSE:GE), Emerson Electric Co. (NYSE:EMR) and Danaher Corp. (NYSE:DHR). Halliburton and Baker Hughes Incorporated (NYSE:BHI) ought to sell up to four businesses in order to get regulatory approval for their $34.6 billion merger.
Baker Hughes Inc. to Cut Another 3,500 Jobs in the First Quarter
Apr 22 15
Baker Hughes Inc. decided to cut another 3,500 jobs in the first quarter, bringing total layoffs to 10,500, or 17% of its workforce.
Baker Hughes Incorporated Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 21 15
Baker Hughes Incorporated announced consolidated earnings results for the first quarter ended March 31, 2015. Revenue for the first quarter of 2015 was $4.6 billion, down 20% compared to the first quarter of 2014 revenue of $5,731 million. On a GAAP basis, net loss attributable to company for the first quarter was $589 million or $1.35 per diluted share compared to net income attributable to company of $328 million or $0.74 per diluted share a year ago. Adjusted EBITDA for the first quarter of 2015 was $458 million, a decrease of $589 million or 56% compared to the first quarter of 2014 adjusted EBITDA of $1,047 million. Adjusted net loss for the first quarter of 2015 was $32 million or $0.07 per diluted share compared to adjusted net income of $369 million or $0.84 per diluted share a year ago. Free cash flow for the current quarter was $22 million, compared to free cash outflow of $36 million for the first quarter of 2014. For the first quarter, capital expenditures were $315 million, compared to $439 million in the first quarter of 2014. Net cash flows provided by operating activities were $256 million against $303 million a year ago. Operating loss was $774 million against operating income of $552 million a year ago. Loss before income taxes was $828 million against income before income taxes of $495 million a year ago. LBITDA was $314 million against EBITDA of $989 million a year ago.
Baker Hughes Incorporated(NYSE:BHI) dropped from PHLX Oil Service Sector Index
Apr 13 15
Baker Hughes Incorporated will be removed from PHLX Oil Service Sector Index
Halliburton Looks To Sell Three Drilling Businesses
Apr 7 15
Halliburton Company (NYSE:HAL), which is seeking regulatory approval for its roughly $35 billion purchase of Baker Hughes Incorporated (NYSE:BHI), plans to sell three drilling business. The three businesses are drill bits, directional drilling and its LWD/MWD businesses, which are logging while drilling and measurement while drilling. The divisions will be marketed separately.