Earnings Reports

Google Ad

Oil and gas servicing giant Halliburton reported better than expected earningsTuesday before the market. $HAL followed earnngs from Schlumberger and ahead of Baker Hughes a GE Co, The concern is North American revenue was down 11% sequentially.

Halliburton Oilfield

The Baker Hughes oil rig count has hit a cycle high benefiting oil service companies with the increased activity in North America. Halliburton serves the upstream oil and gas industry throughout the lifecycle extraction to completion of the energy source.

Halliburton Company NYSE: HAL Reported Before Open Tuesday

$0.41 Beat $0.37 EPS Forecast AND $5.94 Bil Beat $5.89 Billion Forecast in Revenue 

Earnings 

Haliburton Co. (NYSE: HAL) reported its fourth-quarter results early on Tuesday at 41 cents a share, with revenue flat at $5.94 billion.  Analysts had expected Halliburton earnings to fall 32% to 37 cents per share on revenue of $5.89 billion.

Net income attributable to the company was $664 million or $0.76 per share. This compares to a net loss of $824 million or $0.94 per share in the prior-year period. Adjusted income from continuing operations was $358 million or $0.41 per share.

Halliburton Company NYSE: HAL

Market Reaction> Pre-market $31.69 −0.56 (-1.74%)

Highlights

  • North America revenue was $3.3 billion, down 11% sequentially.
  • Halliburton blamed lower activity and pricing in stimulation services, though the Gulf of Mexico was more active.
  • International revenue rose 7% sequentially to $2.6 billion, led by the Middle East/Asia and Latin America regions.
  • On a sequential basis, revenues in Completion and Production fell 8% mainly due to lower activity and pricing for stimulation services in North America.
  • Drilling and Evaluation revenue grew 5% sequentially mainly due to year-end software sales, increased fluids activity in the Gulf of Mexico and improved project management activity in Latin America.
  • Crude oil prices plunged around 40% in the fourth quarter, tempering U.S. activity and spurring OPEC and Russia to enact production cuts.
  • During the quarter, Halliburton acquired SmartFibres, a producer of fiber optic pressure gauges, and also signed two contracts with Eni Iraq BV to drill development wells over the next two years

 HAL Q4 2018 earnings

"“As North American oil production reaches historic highs, operators focus on returns over growth, and the international recovery continues, Halliburton is well prepared to thrive. We intend to dynamically respond to the changing market environment, reduce capital spending, develop differentiating technologies, and generate strong cash flow.”.

Halliburton Company  Q2 Earnings Recap

$0.50 Beat $0.49 EPS Forecast AND $6.17 Bil Beat $6.13 Billion Forecast in Revenue 

Earnings 

Haliburton Co. (NYSE: HAL) reported its third-quarter results early on Monday at 50 cents a share. Revenue rose 13% to $6.17 billion. Halliburton said revenue rose in every international region.with analysts expecting $0.49 in earnings per share (EPS) on $6.13 billion in revenue. Shares in $HAL have a 52-week trading range of $35.75 to $57.86.

Halliburton Company NYSE: HAL

Market Reaction> Pre-market 36.99 −0.55 (1.47%)

Highlights

      • Completion and production unit revenue was flat quarter-over-quarter at $4.2 billion.
      • Drilling and evaluation unit revenue was also flat at $2 billion. 
      • North America revenue fell 2% sequentially to $3.7 billion on lower pricing for stimulation services in the U.S. land sector and reduced drilling fluids activity in North America.
      • International revenue rose 5% sequentially to $2.4 billion on increased completion tool sales.
      • Halliburton said revenue rose in every international region.

HAL Earnings Q3 18

OPEC Oct US Rig Counts

Halliburton Company NYSE: HAL Q2 Earnings Recap

Halliburton Co. (NYSE: $HAL) Reported Before Open Monday

EPS of $0.58 in line with analysts consensus of $0.58 in earnings per share

Earnings

Net income of $511 million, or 58 cents a share, in the quarter, up from $28 million, or 3 cents a share, in the year-earlier period. Revenue rose to $6.147 billion from $4.957 billion. The FactSet consensus was for EPS of 58 cents and revenue of $6.111 billion  

Halliburton Company NYSE: $HAL

Market Reaction > Pre-market $43.65 −1.55 (-3.43%)

$HAL shares closed Friday at $45.20 and the 52-week trading range is $38.18 to $57.86.

Segments

      • Operating segment, completion and production revenue rose 9% from the first quarter to $4.2 billion.
      • Drilling and evaluation rose 3% from the first quarter to $2.0 billion.
      • Halliburton’s North America revenue rose 38.4 percent to $3.83 billion, 
      • Revenue from its international business increased 6 percent to $2.31 billion.
      • Margins in U.S. onshore operations are nearing in on what the company achieved during the previous peak in 2014, Halliburton Chief Executive Jeff Miller said in a statement.

 

HAL Earnings Q2 18

      •  

“North America had a strong performance this quarter. This is the largest and fastest growing energy market in the world. On a year-to-date basis, we have grown revenues 47% year over year, while the U.S. land rig count has increased 16%. U.S. land achieved margins that are closing in on what we achieved during the previous peak in 2014. “Halliburton is better positioned for the international recovery than it has ever been and we are ready to make the most of it. We have competitive market share in all of the major markets and have consistently executed to manage the changing dynamics." CEO Jeff Miller

Conference Call Details

Halliburton will host a conference call on Monday, July 23, 2018, to discuss the second quarter 2018 financial results. The call will begin at 8:00 AM Central Time (9:00 AM Eastern Time).

Source: HAL, Alphastreet

Live From The Pit

Log in to comment
Discuss this article in the forums (1 replies).