Baker Hughes (NYSE: BHI) reported Q1 EPS of ($1.58), $1.24 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.85 billion.

Adjusted net loss excludes impairment and restructuring charges of $145 million after-tax ($0.33 per diluted share), merger and related costs of $92 million after-tax ($0.21 per diluted share), and a loss on a firm purchase commitment of $43 million after-tax ($0.10 per diluted share). These adjustments total $280 million after-tax ($0.64 per diluted share).

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