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Baker Hughes to Report Q4 Earnings: What's in Store for the Stock?
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Baker Hughes Company (BKR - Free Report) is set to report fourth-quarter 2024 results on Jan. 30, after the closing bell.
In the last reported quarter, the oilfield service provider’s adjusted earnings of 67 cents per share beat the Zacks Consensus Estimate of 60 cents, driven by better operational performance across its two business segments — Oilfield Services & Equipment and Industrial & Energy Technology.
The bottom-line estimate for the fourth quarter is pegged at 63 cents per share on revenues of $7.1 billion.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The company beat on earnings in each of the trailing four quarters, delivering an average surprise of 11.0%. This is depicted in the graph below:
The Zacks Consensus Estimate for fourth-quarter earnings per share of 63 cents has witnessed one upward revision and two downward revisions in the past 60 days. The consensus estimate implies an increase of almost 23.5% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $7.1 billion indicates a 3.9% improvement from the year-ago reported figure.
Factors to Consider for BKR
According to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $71.99 per barrel in October, $69.95 in November and $70.12 in December. The crude price environment in the fourth quarter remained favorable for exploration and production activities.
Due to a favorable commodity price environment, Baker Hughes is expected to have witnessed steady demand for its oilfield services in the fourth quarter. The company’s diverse geographic presence is likely to have offset challenges faced in the North American land market. Additionally, rising demand for oilfield services in the expanding offshore energy sector, particularly in regions like Brazil and Africa, is expected to have aided Baker Hughes’ earnings.
Per the data provided by the U.S. Energy Information Administration, natural gas consumption in the United States was higher in the fourth quarter, likely due to higher heating needs in winter. This is likely to have boosted the demand for Baker Hughes’ services related to gas infrastructure projects, contributing positively to its earnings.
The Zacks Consensus Estimate for BKR’s operating income from the Oilfield Services & Equipment business is pegged at $542.8 million, higher than $492 million reported in the year-ago quarter.
Earnings Whispers
Our proven model predicts an earnings beat for Baker Hughes this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is the case here, as you will see below.
Earnings ESP: Baker Hughes has an Earnings ESP of +2.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other stocks that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
EQT is scheduled to release fourth-quarter earnings on Feb. 18. The Zacks Consensus Estimate for earnings is pegged at $0.50 per share, suggesting a 4.17% increase from the prior-year reported figure.
MPLX LP (MPLX - Free Report) currently has an Earnings ESP of +0.78% and a Zacks Rank #3.
MPLX is scheduled to release fourth-quarter earnings on Feb. 4. The Zacks Consensus Estimate for earnings is pegged at $1.03 per share, suggesting a 6.36% decline from the prior-year reported figure.
Viper Energy Inc. (VNOM - Free Report) currently has an Earnings ESP of +4.71% and a Zacks Rank #2.
Viper Energy is scheduled to release fourth-quarter earnings on Feb. 24. The Zacks Consensus Estimate for earnings is pegged at $0.40 per share, suggesting a 40.3% decline from the prior-year reported figure.
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Baker Hughes to Report Q4 Earnings: What's in Store for the Stock?
Baker Hughes Company (BKR - Free Report) is set to report fourth-quarter 2024 results on Jan. 30, after the closing bell.
In the last reported quarter, the oilfield service provider’s adjusted earnings of 67 cents per share beat the Zacks Consensus Estimate of 60 cents, driven by better operational performance across its two business segments — Oilfield Services & Equipment and Industrial & Energy Technology.
The bottom-line estimate for the fourth quarter is pegged at 63 cents per share on revenues of $7.1 billion.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The company beat on earnings in each of the trailing four quarters, delivering an average surprise of 11.0%. This is depicted in the graph below:
Baker Hughes Company Price and EPS Surprise
Baker Hughes Company price-eps-surprise | Baker Hughes Company Quote
Estimate Trend
The Zacks Consensus Estimate for fourth-quarter earnings per share of 63 cents has witnessed one upward revision and two downward revisions in the past 60 days. The consensus estimate implies an increase of almost 23.5% from the year-ago reported number.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $7.1 billion indicates a 3.9% improvement from the year-ago reported figure.
Factors to Consider for BKR
According to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $71.99 per barrel in October, $69.95 in November and $70.12 in December. The crude price environment in the fourth quarter remained favorable for exploration and production activities.
Due to a favorable commodity price environment, Baker Hughes is expected to have witnessed steady demand for its oilfield services in the fourth quarter. The company’s diverse geographic presence is likely to have offset challenges faced in the North American land market. Additionally, rising demand for oilfield services in the expanding offshore energy sector, particularly in regions like Brazil and Africa, is expected to have aided Baker Hughes’ earnings.
Per the data provided by the U.S. Energy Information Administration, natural gas consumption in the United States was higher in the fourth quarter, likely due to higher heating needs in winter. This is likely to have boosted the demand for Baker Hughes’ services related to gas infrastructure projects, contributing positively to its earnings.
The Zacks Consensus Estimate for BKR’s operating income from the Oilfield Services & Equipment business is pegged at $542.8 million, higher than $492 million reported in the year-ago quarter.
Earnings Whispers
Our proven model predicts an earnings beat for Baker Hughes this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is the case here, as you will see below.
Earnings ESP: Baker Hughes has an Earnings ESP of +2.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other stocks that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
EQT Corporation (EQT - Free Report) currently has an Earnings ESP of +4.50% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
EQT is scheduled to release fourth-quarter earnings on Feb. 18. The Zacks Consensus Estimate for earnings is pegged at $0.50 per share, suggesting a 4.17% increase from the prior-year reported figure.
MPLX LP (MPLX - Free Report) currently has an Earnings ESP of +0.78% and a Zacks Rank #3.
MPLX is scheduled to release fourth-quarter earnings on Feb. 4. The Zacks Consensus Estimate for earnings is pegged at $1.03 per share, suggesting a 6.36% decline from the prior-year reported figure.
Viper Energy Inc. (VNOM - Free Report) currently has an Earnings ESP of +4.71% and a Zacks Rank #2.
Viper Energy is scheduled to release fourth-quarter earnings on Feb. 24. The Zacks Consensus Estimate for earnings is pegged at $0.40 per share, suggesting a 40.3% decline from the prior-year reported figure.