Baker Hughes (BHI) Tops Q4 EPS by 37c

Baker Hughes (NYSE: BHI) reported Q4 EPS of $1.44, $0.37 better than the analyst estimate of $1.07. Revenue for the quarter came in at $6.6 billion versus the consensus estimate of $6.41 billion.

Martin Craighead, Baker Hughes Chairman and Chief Executive Officer commented, "Our fourth quarter results punctuate a record year for our company in 2014. We delivered very strong growth in revenue, earnings and free cash flow during the fourth quarter. In spite of increasing concerns of challenging market conditions, we remained focused on achieving the performance objectives that we laid out last year. This was made possible by managing the business more efficiently and delivering on our strategy of converting innovations into earnings through new technologies that provide value to customers and competitive differentiation for Baker Hughes.

"In North America, our multiyear plan to transform and modernize our pressure pumping business delivered positive results during the quarter, leading to record revenue and the highest profitability for that product line in three years. Additionally, increasing demand for cost-effective well construction technologies and new production enhancement solutions, resulted in record revenue for completion systems, drill bits, artificial lift, and upstream chemicals.

For earnings history and earnings-related data on Baker Hughes (BHI) click here.

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