Lowering Baker Hughes FVE and Increasing Uncertainty on Quarterly Results, Recent Developments
Baker Hughes, a GE Company, reported third-quarter results Oct. 20 that revealed a $240 million adjusted operating profit, a solid sequential improvement from $117 million in the prior quarter but a slight underperformance versus our expectations. Total bottom-line results remain dominated by integration and restructuring costs, and management expects these costs to persist for the next three to four quarters. We are lowering our fair value estimate to $39 per share from $41 to incorporate the q...Baker Hughes is an energy technology company. The company's segments are: Oilfield Services, which provides products and services for onshore and offshore operations ranging from drilling, evaluation, completion, production, and intervention; Oilfield Equipment, which provides products and services for the subsea, offshore surface and onshore operating environments; Turbomachinery and Processing Solutions, which provides equipment and related services for mechanical-drive, compression and power-generation applications; and Digital Solutions, which includes condition monitoring, industrial controls, non-destructive technologies, measurement, sensing, and pipeline solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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