Baker Hughes (BHI ) Misses Q2 EPS by 1c
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Baker Hughes Announces Second Quarter Results
July 21, 2015 8:00 AM EDTHOUSTON, July 21, 2015 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today results for the second quarter of 2015.
Martin Craighead, Baker Hughes Chairman and Chief Executive Officer, commented, "Revenue of $4 billion for the second quarter declined 33% year-over-year, outperforming the 36% drop in the global rig count, despite incremental headwinds from deteriorating pricing and unfavorable currency changes. Even though the severity of the revenue decline has compressed our margins, we have minimized the impact by aggressively reducing costs and rightsizing our operational footprint. These actions have resulted in decremental margins of 35% compared... More
