Halliburton Earnings: Here’s Why Shares are Gushing Higher

Halliburton Company (NYSE:HAL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.10%.

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Halliburton Company Earnings Cheat Sheet

Results: Net income decreased -26.16% to $669 million (67 cents per diluted share) in the quarter versus a net gain of $906 million in the year-earlier quarter.

Revenue: Rose 3.2% to $7.29 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Halliburton Company reported adjusted net income of 67 cents per share. By that measure, the company beat the mean analyst estimate of $0.61. It beat the average revenue estimate of $7.06 billion.

Quoting Management: Dave Lesar, Chairman, President and CEO, “From a revenue perspective, we set new records this year in all of our regions and both of our divisions. From an operating income perspective, we achieved new records in our Latin America region and in five of our twelve product lines…

…In the fourth quarter, revenue of $7.3 billion was up 3% sequentially and represents the highest quarterly revenue in company history. All three of our international regions and eight of our twelve product lines set new revenue records.”

Key Stats:

Revenue increased 2.52% from $7.11 billion in the previous quarter. Net income increased 11.13% from $602 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.63 to a profit $0.59. For the current year, the average estimate has moved down from a profit of $3 to a profit of $2.97 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)