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Baker Hughes CEO Lorenzo Simonelli. Source: Barron's
Baker Hughes (BKR) reported Q1 revenue of $5.43 billion, Non-GAAP EPS of $0.11 and GAAP EPS of -$15.64. BKR is down over 40% Y/Y as the free fall in oil prices has taken a toll on oil-related names. In Q1, the company's revenue was off 15% sequentially, but things could be looking up.
Headwinds In North America E&P
E&P in the North America land drilling market has been facing headwinds for a while. Pricing power for oil services companies has also waned. This has come in