Baker Hughes Q4 Adj. EPS, Revenue Miss View - Quick Facts

(RTTNews) - Baker Hughes Co. (BKR) on Wednesday reported fourth-quarter net income attributable to the company of $48 million, down 63 percent from $131 million in the year-ago period. Earnings attributable to Class A shareholders fell to $0.07 from $0.28 in the year-ago period.

Excluding items, adjusted earnings per share for the quarter were $0.27, compared to $0.26 per share in the prior-year quarter.

Revenue for the quarter grew 1 percent to $6.35 billion from $6.26 billion in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter on revenues of $6.47 billion. Analysts' estimates typically exclude special items.

Orders for the quarter also rose 1 percent to $6.94 billion from $6.88 billion a year ago.

"As we look ahead to 2020, we see a macro environment that is slowly improving, as well as a range of opportunities to further strengthen Baker Hughes on both a near-term and long-term basis," said Lorenzo Simonelli, Chairman, President and Chief Executive Officer of Baker Hughes.