Earnings Reports

Google Ad

Oil and gas servicing giant Halliburton reported in line results Monday before the market. $HAL shares were lower after not matching upside beats from  Schlumberger and Baker Hughes a GE Co earnings last week.  Earnings have been boosted by shale fracking activity spurred on by high oil prices.  

Halliburton Oilfield

The Baker Hughes oil rig count has been has been building higher benefiting oil service companies. Halliburton serves the upstream oil and gas industry throughout the lifecycle extraction to completion of the energy source.

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

EPS of $0.58 in line with aalysts 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).

 

Halliburton First Quarter Earnings Recap

Earnings

Earnings per share of US$0.41 on revenue of US$5.7 bln in the quarter ended March 31 slightly under consensus estimates for $0.41 per share on revenue of $5.8 bln.

With oil prices at three year highs North American exploration and production companies are boosting oil and gas activity. North America revenue jumped nearly 58% to US$3.52bln, while revenue from international operations rose 9%. Total revenue jumped to $5.74bln from $4.28bln.

Halliburton Company NYSE: $HAL

Market Reaction $51.27 USD −0.68 (-1.31%) Apr 23, 11:00 AM EDT

“Our Completions and Production division was negatively impacted by delays in sand delivery, due to weather related rail interruptions during the quarter, but achieved a strong March exit with margins in the mid-upper teens. Our Drilling and Evaluations division had strong year over year revenue growth of 15% while operating income grew 54%” said Jeff Miller, President and CEO.

  • Europe/Africa/CIS revenues rose 18.5%
  • Middle East regions revenues rose 7% respectively.
  • Latin America turned negative with revenue dipping 1.3% year-over-year. The company has curbed its operations in Latin America in the recent past due to reduced count of fracturing stage in Argentina and scaled down activity in Brazil.

HAL operates under two main segments; Completion and Production and Drilling and Evaluation.

Halliburton earnings

Source: HAL, Alphastreet

Live From The Pit

Log in to comment
Discuss this article in the forums (3 replies).