Baker Hughes (BHI) Posts Q1 adj.-Loss of 7c/Share

Baker Hughes (NYSE: BHI) reported Q1 EPS of ($0.07), $0.59 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $4.6 billion versus the consensus estimate of $5.46 billion.

Additional charges of $157 million before-tax, or $133 million after-tax ($0.30 per diluted share), were incurred in the first quarter, which includes $105 million relating to reserves for doubtful accounts and $52 million associated with inventory reserves. Although these charges were significant and largely market-driven, they were not categorized as adjustments, and therefore not excluded from adjusted net operating loss.

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

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