Energy technology company Baker Hughes (NASDAQ: BKR) will be reporting results this Thursday after market hours. Here’s what to look for.
Baker Hughes beat analysts’ revenue expectations last quarter, reporting revenues of $7.39 billion, flat year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA 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 decline 1.6% year on year, a deceleration from its flat revenue 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 to 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 upstream & integrated segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Halliburton posted flat year-on-year revenue, beating analysts’ expectations by 1.9%, and Range Resources reported revenues up 20.6%, topping estimates by 6.3%.
Read our full analysis of Halliburton’s results here and Range Resources’s results here.
Investors in the upstream & integrated segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Baker Hughes is down 3.7% during the same time and is heading into earnings with an average analyst price target of $63.48 (compared to the current share price of $60.22).
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