April 20, 2018 / 11:22 AM / 7 months ago

BRIEF-Baker Hughes, A GE Company Reports Q1 GAAP Earnings Of $0.17/Share

April 20 (Reuters) - Baker Hughes A GE Co:

* BAKER HUGHES, A GE COMPANY ANNOUNCES FIRST QUARTER 2018 RESULTS

* QUARTERLY ADJUSTED EARNINGS PER SHARE $0.09

* Q1 EARNINGS PER SHARE VIEW $0.06 -- THOMSON REUTERS I/B/E/S

* SAYS "MARKET FUNDAMENTALS REMAIN SUPPORTIVE, AS CRUDE OIL PRICES ARE RELATIVELY RANGEBOUND"

* SAYS GAS MARKET CONTINUES TO GROW, STRONG LNG DEMAND SUPPORTS VIEW THAT NEW CAPACITY WILL BE REQUIRED IN EARLY TO MID-PART OF NEXT DECADE

* SAYS IN OILFIELD SERVICES SEGMENT, SECURED SEVERAL CRITICAL COMMERCIAL WINS, & SYNERGY EFFORTS LED TO IMPROVED MARGIN RATES IN Q1

* SAYS IN TURBOMACHINERY & PROCESS SOLUTIONS SEGMENT, CONTINUE TO NAVIGATE SLOWDOWN IN LONG-CYCLE PROJECTS

* SAYS "LOOKING FORWARD, THE MACRO OUTLOOK IS FAVORABLE"

* IN Q1, DELIVERED $144 MILLION OF SYNERGIES; 2018 TOTAL YEAR COMMITMENT OF $700 MILLION REMAINS "FIRMLY ON TRACK"

* BACKLOG IN Q1 ENDED AT $22.2 BILLION, AN INCREASE OF $1.2 BILLION OR 6 PERCENT FROM Q4 OF 2017

* BENEFIT FOR INCOME TAXES WAS $86 MILLION FOR Q1

* QUARTERLY INTERNATIONAL OILFIELD SERVICES REVENUE DOWN SEQUENTIALLY, PRIMARILY DRIVEN BY LOWER ACTIVITY IN LATIN AMERICA, ASIA, MIDDLE EAST

* IN QUARTER, AS EXPECTED, SAW GROWTH IN SHORTER-CYCLE BUSINESSES & DECLINES IN LONGER-CYCLE BUSINESSES VERSUS PREVIOUS YEAR

* Q1 REVENUE DOWN SEQUENTIALLY, DRIVEN BY LOWER TURBOMACHINERY & PROCESS SOLUTIONS REVENUE, SEASONALITY IN DIGITAL SOLUTIONS & OILFIELD SERVICES

* QUARTERLY REVENUE OF $5.4 BILLION, DOWN 7 PERCENT SEQUENTIALLY AND UP 1 PERCENT YEAR-OVER-YEAR

* Q1 REVENUE VIEW $5.42 BILLION -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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