Halliburton Earnings: Here’s Why the Stock is Down Now
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 down 0.37%.
Halliburton Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 8.75% to $0.73 in the quarter versus EPS of $0.80 in the year-earlier quarter.
Revenue: Rose 1.15% to $7.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Halliburton Company reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.72. It beat the average revenue estimate of $7.25 billion.
Quoting Management: “I am pleased with our second quarter results, as total company revenue of $7.3 billion was a record quarter for Halliburton,” commented Dave Lesar, chairman, president and chief executive officer. “Looking at our product lines, Baroid, Cementing, Completion Tools, Multi-Chem, and Testing set quarterly revenue records, while Baroid, Testing, and Artificial Lift all set quarterly operating income records.”
Key Stats (on next page)…
Revenue increased 4.92% from $6.97 billion in the previous quarter. EPS increased 8.96% from $0.67 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.81 to a profit $0.84. For the current year, the average estimate has moved up from a profit of $3.00 to a profit of $3.17 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)