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2016-01-31 11:20:00

BAKER HUGHES: NET LOSS $1.97 BLN

BAKER HUGHES: NET LOSS $1.97 BLN

HOUSTON, Jan. 28, 2016 -- Baker Hughes Incorporated (NYSE: BHI) announced today results for the fourth quarter and full year of 2015.

"Our 2015 results are reflective of an extremely difficult and increasingly challenging year for the industry," said Martin Craighead, Baker Hughes Chairman and Chief Executive Officer. "Since the fourth quarter of 2014, the global rig count has declined 46% as our customers adjusted their spending to align with declining commodity prices. Despite this challenging environment, we generated $1.2 billion of free cash flow during the year, after more than $446 million of restructuring payments. This achievement was the result of our ongoing commitment…

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Tags: BAKER, HUGHES, OIL, PRICE
Chronicle:
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