Halliburton Earnings Cheat Sheet: Profits Climb By Double Figures Again
S&P 500 (NYSE:SPY) component Halliburton Company (NYSE:HAL) reported net income above Wall Street’s expectations for the second quarter. Halliburton Company provides oilfield technologies and services to upstream oil and gas customers worldwide.
Halliburton Company Earnings Cheat Sheet for the Second Quarter
Results: Net income for the oil and gas equipment and services company rose to $739 million (80 cents per share) vs. $480 million (53 cents per share) in the same quarter a year earlier. This marks a rise of 54% from the year earlier quarter.
Revenue: Rose 35.3% to $5.93 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: HAL beat the mean analyst estimate of 72 cents per share. It beat the average revenue estimate of $5.69 billion.
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 34.3%, 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 first quarter, net income rose more than twofold and in the fourth quarter of the last fiscal year, the figure rose more than twofold.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 5 cents in the fourth quarter of the last fiscal year, and by 2 cents in the third quarter of the last fiscal year.
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).
(Source: Xignite Financials)