Before the opening bell, analysts surveyed by FactSet are looking for the Houston-based company to post an adjusted loss of 44 cents per share on revenue of $2.41 billion.
In 2015, Baker Hughes reported an adjusted loss of 5 cents per share on $3.79 billion in revenue in the same period.
Barclays said in a recent note that Baker Hughes "may get a free pass from another noisy quarter."
The firm has an "overweight" rating and $55 price target on Baker Hughes shares.
Additionally, oil prices were falling in mid-afternoon trading today after Iraq said it wanted to be exempt from OPEC's output agreement, Reuters reports.
In late September, OPEC countries agreed to cut production by 700,000 barrels daily in November. The reduction would bring output totals to between 32.5 million barrels per day and 33 million barrels per day.
Crude oil (WTI) was down 1.75% to $49.96 per barrel while Brent crude was falling 1.64% to $50.93 per barrel this afternoon.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: BHI