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U.S. energy firms this week added oil and natural gas rigs for a second week in a row , boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday.
Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region.
Baker Hughes' (BKR) Q2 earnings benefit from higher contributions from Oilfield Services and Equipment and the Industrial & Energy Technology business units, fueled by significant contract wins.
Baker Hughes (BKR) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.39 per share a year ago.
Second-quarter highlights Orders of $7.5 billion, including $3.5 billion of IET orders. RPO of $33.5 billion, including record IET RPO of $30.2 billion.
HOUSTON and LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on Aug. 16, 2024, to holders of record on Aug. 6, 2024.
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Baker Hughes' (BKR) Q2 earnings are likely to have benefited from rising crude oil prices, which might have also aided the company's revenues and overall performance.
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