Halliburton Company Earnings: Five Straight Quarters of Double-Digit Growth

S&P 500 (NYSE:SPY) component Halliburton Company (NYSE:HAL) reported higher profit for the fourth quarter as revenue showed growth. Halliburton provides oilfield technologies and services to upstream oil and gas customers worldwide.

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Halliburton Company Earnings Cheat Sheet for the Fourth Quarter.

Results: Net income for the oil and gas equipment and services company rose to $906 million (98 cents per share) vs. $605 million (66 cents per share) in the same quarter a year earlier. This marks a rise of 49.8% from the year earlier quarter.

Revenue: Rose 36.9% to $7.06 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HAL reported adjusted net income of $1 per share. By that measure, the company beat the mean estimate of 99 cents per share. It beat the average revenue estimate of $6.83 billion.

Quoting Management: Dave Lesar, chairman, president, and chief executive officer said, “I am very pleased with our fourth quarter and full year 2011 results, which set records for revenue and operating income. For the full year, we delivered record revenue for both of our business segments and three of our four geographies. During 2011, we continued to execute our growth strategy in North America while expanding our presence in key emerging international markets. Overall, we were able to deliver on our goals of superior growth, margins, and returns while strengthening our position for future growth.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 38.6%, with the biggest boost coming in the first quarter when revenue rose 40.4% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 25.6% and in the second quarter, the figure rose 54%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by 9 cents in the second quarter, and by 3 cents in the first quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the first quarter of the next fiscal year is 97 cents per share, down from 99 cents ninety days ago. At $3.34 per share, the average estimate for the fiscal year has fallen from $3.35 ninety days ago.

Competitors to Watch: Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited. (NYSE:SLB), Weatherford Intl. Ltd. (NYSE:WFT), Cameron Intl. Corp. (NYSE:CAM), Complete Production Services, Inc. (NYSE:CPX), TETRA Technologies, Inc. (NYSE:TTI), RPC, Inc. (NYSE:RES), Helix Energy Solutions Group Inc. (NYSE:HLX), Oceaneering International (NYSE:OII), and National-Oilwell Varco, Inc. (NYSE:NOV).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com