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BRIEF-Baker Hughes a GE Co Q3 adj. basic earnings per share $0.05
October 20, 2017 / 11:01 AM / in a month

BRIEF-Baker Hughes a GE Co Q3 adj. basic earnings per share $0.05

Oct 20 (Reuters) - Baker Hughes A Ge Co:

* Qtrly ‍GAAP loss per share $0.24​

* Qtrly ‍revenue of $5.4 billion, down 1% sequentially and flat year-over-year on a combined business basis​

* ‍“In our Oilfield Services segment, we continue to see growth driven by our well construction business in North America”​

* Qtrly ‍adjusted basic earnings per share (a non-GAAP measure) were $0.05​

* In Oilfield Services segment, ‍international activity “remains muted” with rig count flat year-to-date

* ‍“In our Oilfield Equipment segment, subsea market continues to be challenging”​

* ‍“We expect overall oil and gas environment to remain challenging for rest of year”​

* In Oilfield Equipment segment, “activity remains low and price continues to be pressured​”

* In overall O&G environment, seen some improvement in activity but not seen meaningful increases in customer capital commitments​

* In Oilfield Equipment segment, expect subsea market to be challenged in short term, “little sign” of significant recovery in 2018​

* Adjusted operating income for Q3 excludes adjustments of $362 million before tax, related to restructuring charges, merger and related costs​

* Q3 earnings per share view $0.11, revenue view $5.53 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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