Baker Hughes sees lower North America activity; bets on foreign demand [Yahoo! Finance Canada]
Mistras Group Inc (MG)
Last mistras group inc earnings: 11/4 05:20 pm
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Source: Yahoo! Finance Canada
HOUSTON (Reuters) - 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. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. Shares of the company, which beat analysts' estimates for second-quarter profit on Thursday, rose 4% to $36.99. Lukewarm demand and a wave of mergers have constrained producer budgets in North America, with service companies betting on international and offshore markets to offset the weakness. ADVERTISEMENT Baker Hughes now expects spending by North America producers to decline in the mid-single digits year-over year, instead of in the low- to mid-single digits in its previous estimate. Top service company SLB said last week that North American growth would be lower than expected, while Halliburton estimat
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MG
Earnings
- 7/31/24 - Miss
MG
Sec Filings
- 9/25/24 - Form 4
- 9/24/24 - Form 4
- 9/20/24 - Form 4
- MG's page on the SEC website