By Liz Hampton and Arunima Kumar
(Reuters) -Shares of energy services firm Baker Hughes slipped on Wednesday after reporting second quarter results that fell short of Wall Street estimates as it shifts its business to technology and services that help customers transition to a lower carbon world.
Baker Hughes Co swung to a profit from a loss a year-ago, but was down 9% from the prior quarter and missed analysts forecasts. Earnings were hurt by $125 million in impairment and restructuring charges.
Shares slipped 1% to $19.86. Brent crude futures were up about 2% on Wednesday to $70.77 per barrel. [O/R]
While oil demand has rebounded from the pandemic lows seen last year, spending on oilfield services has only inched higher as energy companies hold spending and production flat.
The recovery in oil demand may face a threat from new strains of COVID-19, but spending and activity should gain momentum through the year as the business environment improves, Chief Executive Officer Lorenzo Simonelli said in a statement.
Baker Hughes is rebranding itself as an energy transition company, focusing on technology and shedding some traditional oilfield businesses. Revenue at its oilfield services unit was down about 2% year-over-year, while oilfield equipment revenue dipped 8% over that period.
In oilfield services, Simonelli projected high single-digit to low double-digit percentage growth in international markets in the second half of the year and modest growth in North American markets. He anticipates companies will add around 50 rigs in North America through the end of the year, with private companies picking up activity at current price levels.
Adjusted net income attributable to the company was $83 million, or 10 cents per share, in the quarter ended June 30, compared with $91 million, or 12 cents per share, in the first quarter. Wall Street analysts had anticipated earnings of 16 cents per share, according to Refinitiv IBES.
Revenue of $5.142 billion for the quarter topped forecasts of $4.948 billion, according to Refinitiv.
Overall, Wall Street analysts said the results were neutral to positive, pointing to stronger profit margins and free cash flow.
Investment firm Tudor Pickering Holt & Co called the report "solid" and lauded Baker's continued focus on technological innovation and the energy transition.
EUR/USD
1.0776
-0.0010 (-0.10%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (1)
EUR/USD
1.0776
-0.0010 (-0.10%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (1)
GBP/USD
1.2622
0.0000 (0.00%)
Summary
NeutralMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (3)
Sell (4)
USD/JPY
151.40
+0.03 (+0.02%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (8)
AUD/USD
0.6507
-0.0008 (-0.12%)
Summary
SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (1)
Sell (4)
USD/CAD
1.3561
+0.0023 (+0.17%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (8)
Sell (1)
EUR/JPY
163.13
-0.12 (-0.07%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
EUR/CHF
0.9728
+0.0001 (+0.01%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
Gold Futures
2,254.80
-0.10 (0.00%)
Summary
BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (5)
Sell (0)
Silver Futures
25.100
+0.002 (+0.01%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Copper Futures
4.0115
-0.0003 (-0.01%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (7)
Sell (0)
Crude Oil WTI Futures
83.11
+1.76 (+2.16%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Brent Oil Futures
86.99
+0.04 (+0.05%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (2)
Sell (3)
Natural Gas Futures
1.752
+0.034 (+1.98%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (0)
Sell (6)
US Coffee C Futures
188.53
-2.12 (-1.11%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Euro Stoxx 50
5,082.85
+1.11 (+0.02%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (6)
S&P 500
5,254.35
+5.86 (+0.11%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (3)
Sell (8)
DAX
18,504.51
+27.42 (+0.15%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (0)
FTSE 100
7,952.62
+20.64 (+0.26%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (10)
Hang Seng
16,541.42
+148.58 (+0.91%)
Summary
NeutralMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (3)
Sell (1)
US Small Cap 2000
2,120.15
+5.80 (+0.27%)
Summary
NeutralMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (5)
Sell (4)
IBEX 35
11,074.60
-36.70 (-0.33%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (5)
BASF SE NA O.N.
52.930
-0.320 (-0.60%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (6)
Sell (1)
Bayer AG NA
28.43
+0.01 (+0.04%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
Allianz SE VNA O.N.
277.80
+0.35 (+0.13%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (0)
Adidas AG
207.00
+2.30 (+1.12%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
Deutsche Lufthansa AG
7.281
+0.104 (+1.45%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (6)
Siemens AG Class N
176.96
+0.04 (+0.02%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (10)
Sell (0)
Deutsche Bank AG
14.582
-0.030 (-0.21%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (1)
EUR/USD | 1.0776 | ↑ Buy | |||
GBP/USD | 1.2622 | Neutral | |||
USD/JPY | 151.40 | ↑ Sell | |||
AUD/USD | 0.6507 | Sell | |||
USD/CAD | 1.3561 | ↑ Buy | |||
EUR/JPY | 163.13 | ↑ Buy | |||
EUR/CHF | 0.9728 | ↑ Buy |
Gold | 2,254.80 | Buy | |||
Silver | 25.100 | ↑ Buy | |||
Copper | 4.0115 | ↑ Buy | |||
Crude Oil WTI | 83.11 | ↑ Buy | |||
Brent Oil | 86.99 | Neutral | |||
Natural Gas | 1.752 | ↑ Sell | |||
US Coffee C | 188.53 | ↑ Sell |
Euro Stoxx 50 | 5,082.85 | ↑ Sell | |||
S&P 500 | 5,254.35 | ↑ Sell | |||
DAX | 18,504.51 | ↑ Buy | |||
FTSE 100 | 7,952.62 | ↑ Sell | |||
Hang Seng | 16,541.42 | Neutral | |||
Small Cap 2000 | 2,120.15 | Neutral | |||
IBEX 35 | 11,074.60 | ↑ Sell |
BASF | 52.930 | ↑ Buy | |||
Bayer | 28.43 | Buy | |||
Allianz | 277.80 | ↑ Buy | |||
Adidas | 207.00 | ↑ Buy | |||
Lufthansa | 7.281 | ↑ Sell | |||
Siemens AG | 176.96 | ↑ Buy | |||
Deutsche Bank AG | 14.582 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 7,910/ 8,080 (30/ 30) # 1,361 |
SJC HCM | 7,900/ 8,100 (0/ 0) # 1,381 |
SJC Hanoi | 7,900/ 8,102 (0/ 0) # 1,383 |
SJC Danang | 7,900/ 8,102 (0/ 0) # 1,383 |
SJC Nhatrang | 7,900/ 8,102 (0/ 0) # 1,383 |
SJC Cantho | 7,900/ 8,102 (0/ 0) # 1,383 |
Cập nhật 29-03-2024 13:43:47 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$2,232.75 | -1.61 | -0.07% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 24.690 | 25.180 |
RON 95-III | 24.280 | 24.760 |
E5 RON 92-II | 23.210 | 23.670 |
DO 0.05S | 21.010 | 21.430 |
DO 0,001S-V | 21.640 | 22.070 |
Dầu hỏa 2-K | 21.260 | 21.680 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $82.82 | +5.39 | 0.07% |
Brent | $86.82 | +5.18 | 0.06% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 24.610,00 | 24.980,00 |
EUR | 26.047,45 | 27.476,69 |
GBP | 30.507,55 | 31.805,49 |
JPY | 159,05 | 168,34 |
KRW | 15,91 | 19,28 |
Cập nhật lúc 13:36:23 29/03/2024 Xem bảng tỷ giá hối đoái |