Baker Hughes Reduces Q4 EPS Guidance

Baker Hughes  (NYSE: BHI  ) is preparing to announce a significantly lower profit than once anticipated. In advance of its Q4 2013 results announcement, the company has cut its revenue and earnings guidance for the quarter. Its new guidance is for EPS of $0.60 to $0.62 per share, down sharply from the previous estimate of $0.78 to $0.80.

The key reason for the downward adjustment is a shutdown of the company's Iraq operations, which occurred last November following protests by local residents at the firm's facility near the city of Basra. The protests may have been linked to similar demonstrations in the region earlier that month targeting Schlumberger. Baker Hughes' operations were resumed several weeks after the incident.

Additionally, the firm's quarter was hurt by weather delays, which particularly affected operating margins in its North America, Europe, Africa, and Russia Caspian Sea operations.

Baker Hughes is scheduled to report its Q4 figures on Tuesday, January 21.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2791333, ~/Articles/ArticleHandler.aspx, 11/23/2014 7:23:03 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement