Baker Hughes Inc. (NYSE: BHI) also reported first-quarter earnings Thursday morning. The company posted adjusted EPS of $0.84 on revenues of $5.73 billion, compared with EPS of $0.65 on revenues of $5.23 billion in the same period a year ago. The consensus estimates called for EPS of $0.78 on revenues of $5.71 billion.
The big difference between the two companies — and their quarterly results — is exposure to North America. Baker Hughes gets 48% of its revenues from North American operations, while Schlumberger gets a third of its revenues from the United States and Canada. And because that is where the land-based drilling action was during the quarter, that is where the revenues and profits are.
ALSO READ: Chesapeake Energy Files to Spin Off Oilfield Services Group
Neither company provided guidance in its press release. The consensus estimate for Schlumberger calls for second-quarter EPS of $1.36 on revenues of $12.11 billion. For the full year, EPS is pegged at $5.67 on revenues of $49.31 billion.
At Baker Hughes, the consensus second-quarter estimates call for EPS of $0.89 on revenues of $5.9 billion. For the full year, the consensus EPS estimate is $4.03 on revenues of $24.23 billion.
Schlumberger shares were up about 0.8% in premarket trading Thursday, at $100.94 in a 52-week range of $69.08 to $101.06. The high was posted Wednesday. Thomson Reuters had a consensus analyst price target of around $111.70 before the results were announced.
Shares of Baker Hughes were up about 5.6% at $68.97, above the top of the stock’s 52-week range of $42.60 to $66.56. That high was set Wednesday as well. The price target on the stock from Thomson Reuters is around $69.20.
ALSO READ: Oilfield Services: Picking a Value Play
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.