Baker Hughes (BHI) To Take Q1 Charge on Disrupted Middle East Ops
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Price: $57.68 --0%
Financial Fact:
Acquisition-related costs: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Acquisition-related costs: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Baker Hughes (NYSE: BHI) saw a little bit of a dip this afternoon, following a disclosure filed with the U.S. SEC which updated on the drillers ops in North Africa and the Middle East.
According to the filing, "operations in Tunisia, Egypt and Libya were disrupted by civil unrest. While operations in Tunisia and Egypt have resumed, we have not resumed normal operations in Libya where all customer activity has ceased. Other countries in the area have also experienced civil unrest which has, to date, not disrupted our operations. During 2010, North Africa and Egypt accounted for approximately 3% of our total revenue.
In addition, colder than normal weather in North America has resulted in delays to planned customer activity in January and February that may not be completed in March.
We now expect a negative impact from these unplanned events of approximately $0.04 to $0.07 per share to our first quarter net income per share."
The Street consensus is currently looking for EPS of $0.82 per share.
BHI have rebounded from an initial dip, and are now 0.1% higher on the day.
According to the filing, "operations in Tunisia, Egypt and Libya were disrupted by civil unrest. While operations in Tunisia and Egypt have resumed, we have not resumed normal operations in Libya where all customer activity has ceased. Other countries in the area have also experienced civil unrest which has, to date, not disrupted our operations. During 2010, North Africa and Egypt accounted for approximately 3% of our total revenue.
In addition, colder than normal weather in North America has resulted in delays to planned customer activity in January and February that may not be completed in March.
We now expect a negative impact from these unplanned events of approximately $0.04 to $0.07 per share to our first quarter net income per share."
The Street consensus is currently looking for EPS of $0.82 per share.
BHI have rebounded from an initial dip, and are now 0.1% higher on the day.
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