We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is a Beat in Store for Baker Hughes (BHGE) in Q3 Earnings?
Read MoreHide Full Article
Baker Hughes, a GE company is scheduled to report third-quarter 2018 results on Oct 30, before the opening bell.
The oilfield services player beat the Zacks Consensus Estimate in two of the last four quarters. For the third quarter of 2018, the Zacks Consensus Estimate for earnings per share is pegged at 21 cents, up more than 300% from the year-ago quarter.
Let’s see how things are shaping up for the upcoming quarterly release.
Why a Likely Positive Surprise?
Our proven model shows that Baker Hughes is likely to beat earnings estimates because it has the right combination of two key ingredients.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +2.17%. This is a very meaningful and leading indicator of a likely positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Baker Hughes carries a Zacks Rank #3 (Hold), which when combined with +2.17% ESP, makes us confident about an earnings beat.
Please note that stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a significantly higher chance of beating earnings estimates. The Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.
What’s Driving the Better-Than-Expected Performance?
The Zacks Consensus Estimate for operating income from the Digital Solutions unit is pegged at $98 million for the third quarter, higher than the last reported quarter’s $96 million and the year-ago quarter’s $87 million.
The Oilfield Equipment segment is expected to come up with narrower-than-expected loss of around $4 million compared with the year-ago period’s $43 million and second-quarter 2018’s figure of $12 million.
The Zacks Consensus Estimate for operating income from the Oilfield Services segment is pegged at $229 million for the third quarter, higher than the last reported quarter’s $189 million and the year-ago quarter’s $75 million.
The Zacks Consensus Estimate for operating income from the Turbomachinery & Process Solutions is pegged at $147 million, up from $113 million in the second quarter of 2018.
Total orders from all its segments for the third quarter is expected at $5.9 billion, higher than the year-ago figure of $5.7 billion.
Other Stocks to Consider
Here are some other companies from the energy sector, which, according to our model, also have the right combination of elements to post an earnings beat in the to-be-reported quarter:
Houston, TX-based Penn Virginia Corporation has a Zacks Rank #2 and an Earnings ESP of +6.38%. The company will report third-quarter earnings on Nov 14. You can see the complete list of today’s Zacks #1 Rank stocks here.
Woodlands, TX-based Anadarko Petroleum Corporation holds a Zacks Rank #2 and has an Earnings ESP of +2.39%. The company is scheduled to report third-quarter earnings on Oct 30.
Calgary, Canada-based Enbridge Inc. (ENB - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +5.67%. The company is anticipated to report quarterly results on Nov 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Is a Beat in Store for Baker Hughes (BHGE) in Q3 Earnings?
Baker Hughes, a GE company is scheduled to report third-quarter 2018 results on Oct 30, before the opening bell.
The oilfield services player beat the Zacks Consensus Estimate in two of the last four quarters. For the third quarter of 2018, the Zacks Consensus Estimate for earnings per share is pegged at 21 cents, up more than 300% from the year-ago quarter.
Baker Hughes, a GE company Price and EPS Surprise
Baker Hughes, a GE company Price and EPS Surprise | Baker Hughes, a GE company Quote
Let’s see how things are shaping up for the upcoming quarterly release.
Why a Likely Positive Surprise?
Our proven model shows that Baker Hughes is likely to beat earnings estimates because it has the right combination of two key ingredients.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +2.17%. This is a very meaningful and leading indicator of a likely positive earnings surprise. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Baker Hughes carries a Zacks Rank #3 (Hold), which when combined with +2.17% ESP, makes us confident about an earnings beat.
Please note that stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 have a significantly higher chance of beating earnings estimates. The Sell-rated stocks (Zacks Rank #4 or 5) should never be considered going into an earnings announcement.
What’s Driving the Better-Than-Expected Performance?
The Zacks Consensus Estimate for operating income from the Digital Solutions unit is pegged at $98 million for the third quarter, higher than the last reported quarter’s $96 million and the year-ago quarter’s $87 million.
The Oilfield Equipment segment is expected to come up with narrower-than-expected loss of around $4 million compared with the year-ago period’s $43 million and second-quarter 2018’s figure of $12 million.
The Zacks Consensus Estimate for operating income from the Oilfield Services segment is pegged at $229 million for the third quarter, higher than the last reported quarter’s $189 million and the year-ago quarter’s $75 million.
The Zacks Consensus Estimate for operating income from the Turbomachinery & Process Solutions is pegged at $147 million, up from $113 million in the second quarter of 2018.
Total orders from all its segments for the third quarter is expected at $5.9 billion, higher than the year-ago figure of $5.7 billion.
Other Stocks to Consider
Here are some other companies from the energy sector, which, according to our model, also have the right combination of elements to post an earnings beat in the to-be-reported quarter:
Houston, TX-based Penn Virginia Corporation has a Zacks Rank #2 and an Earnings ESP of +6.38%. The company will report third-quarter earnings on Nov 14. You can see the complete list of today’s Zacks #1 Rank stocks here.
Woodlands, TX-based Anadarko Petroleum Corporation holds a Zacks Rank #2 and has an Earnings ESP of +2.39%. The company is scheduled to report third-quarter earnings on Oct 30.
Calgary, Canada-based Enbridge Inc. (ENB - Free Report) carries a Zacks Rank #2 and has an Earnings ESP of +5.67%. The company is anticipated to report quarterly results on Nov 2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>