baker hughes inc (BHI) Key Developments
Baker Hughes Incorporated Declares Regular Quarterly Cash Dividend, Payable on June 24, 2015
May 14 15
Baker Hughes Incorporated declared the regular quarterly cash dividend of $0.17 per share, unchanged from the previous quarter. The dividend is payable on June 24, 2015 to holders of record on June 3, 2015.
Baker Hughes Incorporated Announces Operating Results for the Month of April 2015
May 7 15
Baker Hughes Incorporated announced operating results for the month of April 2015. The company announced that the international rig count for April 2015 was 1,202, down 49 from the 1,251 counted in March 2015, and down 147 from the 1,349 counted in April 2014. The international offshore rig count for April 2015 was 300, down 16 from the 316 counted in March 2015, and down 29 from the 329 counted in April 2014. The average U.S. rig count for April 2015 was 976, down 134 from the 1,110 counted in March 2015, and down 859 from the 1,835 counted in April 2014. The average Canadian rig count for April 2015 was 90, down 106 from the 196 counted in March 2015, and down 114 from the 204 counted in April 2014. The worldwide rig count for April 2015 was 2,268, down 289 from the 2,557 counted in March 2015, and down 1,120 from the 3,388 counted in April 2014.
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.