I am here rumors that Baker Hughes is legitimately going bankrupt this year. Any truth to this or just rumors?
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Financially it’s not, however strategically Baker facing a real challenge to spin up growth. Acquisition, integration and divestment has not produced any sustainable growth. Hopefully organic growth with clear winning strategy is fork out of the ditch.
They are having a challenges no doubt. GE earnings Q4 were quite favorable due to the fact we Divested BH and removed the negative impact of their earnings from ours.
https://www.aa.com.tr/en/energy/stock-market/baker-hughes-earnings-fall-revenues-rise-in-2019-4q/28176
Do the math for 2019.
The U.S.-based oilfield services firm Baker Hughes saw its earnings decline but revenues increase in both the fourth quarter of 2019 and for the full year, the company's financial results statement released Wednesday showed.
Net income in the final quarter of last year came in at $48 million – a decrease of 63.3% from the $131 million recorded in the last quarter of 2018.
For the full year of 2019, net income was $128 million – a 34.3% decline from the $195 million for the full year of 2018.
Revenue, on the other hand, posted increases for both the fourth quarter and full year of 2019, according to the financial results statement.
The company posted revenue of $6.34 billion in the fourth quarter of last year, marking a 7.8% increase from the $5.88 billion recorded for the same period of 2018.
The firm also saw revenue of $23.84 billion for the full year of 2019 – a 4.2% rise from the $22.88 billion revenue in 2018.
“As we look ahead to 2020, we see a macro environment that is slowly improving," Baker Hughes Chairman, President and CEO Lorenzo Simonelli said in the statement.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr
2019 was rough for BH. Mgmt already tripping about travel. There's a hiring freeze. All the Digital Solutions businesses are being set up to sell if necessary. All the telltale signs are there.
If BKR were to bankrupt, Larry is going to lose $9B of cash that he promised Wall St. and he would have to get that from somewhere. You better pray that’s just a rumor.
Get. Get
- a
life.
No