GE's Baker Hughes reports surprise negative free cash flow, shares fall [Reuters]
Halliburton Company (HAL)
Last halliburton company earnings: 4/20 06:45 am
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Source: Reuters
GE's Baker Hughes reports surprise negative free cash flow, shares fall - Reuters 3 Min Read (Reuters) - Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent. Oilfield service companies, including bellweather Schlumberger NV and Halliburton Co, are planning to spend less in 2019, following in the footsteps of oil producers who have cut budgets in response to shareholder pressure for capital discipline rather than spending to grow their top line. Baker Hughes on Tuesday posted negative free cash flow of $419 million, compared with analysts’ estimates of a positive $188.5 million. Baker Hughes Chief Financial Officer Brian Worrell attributed the reasons for the negative cash flow to annual payments related to employee compensation, delay in realizing some revenue and higher inventory that was built in expectatio
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News
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- Halliburton (NYSE: HAL) had its price target raised by analysts at TD Cowen from $47.00 to $48.00. They now have a "buy" rating on the stock.MarketBeat
HAL
Earnings
- 4/23/24 - Beat
HAL
Sec Filings
- 4/24/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/2/24 - Form DEFA14A
- HAL's page on the SEC website