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Baker Hughes -1.5% after guiding Q4 earnings below consensus

  • Baker Hughes (BHI) -1.5% premarket issuing downside guidance for Q4, seeing EPS of $0.78-$0.80 vs. $0.83 analyst consensus estimate.
  • BHI says disruption to its business in Iraq knocked $0.18/share off Q4 earnings, and weather problems in U.S. and the North Sea resulted in a decline in profit margins from the area.
  • Says it repurchased ~$350M in common stock during the quarter.
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