Houston-based oil and gas servicing giant Halliburton reported better than expected first quarter earnings Tuesday before the market. HAL posted net income of $651 million, or 72 cents a share, ahead of consensus 67 cents. Revenue grew 32.5% to $5.68 billion as completion and production revenue jumped 45% to $3.4 billion and drilling and evaluation revenue increased 17% to $2.3 billion. It wasn’t long ago oil services companies were debt laden and loss making, free cash flow continues to surge. HAL … Continue reading “Halliburton Earnings Double as Completion and Production Revenue Jump 45%”
Oil Field Services Giant SLB Reports Weaker Cashflow & Plateauing North American Activity
The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected first quarter earnings Friday before the market opened. However, $SLB stock was down 4% after the release with concerns about reported weaker-than-expected cash flow and activity in the North American onshore market may plateau this year. Earnings per share were 63 cents, compared with an average estimate of 60 cents among analysts surveyed by FactSet. Revenue was $7.74 billion, compared with expectations for $7.44 … Continue reading “Oil Field Services Giant SLB Reports Weaker Cashflow & Plateauing North American Activity”
Oil Service Giant Baker Hughes Strongest Growth in LNG and New Energies Segments
Houston based energy services giant Baker Hughes reported stronger than expected first quarter earnings on Wednesday before the market open. BKR reported a a net profit of $576 million compared to a $72 million return for the same quarter of 2022 and a $182 million net profit in the previous quarter. Revenues were $5.7 billion for the first quarter of 2023, up 18% year-on-year. Orders were $7.6 billion were up 12% year-on-year in Q1. Growth was strongest in its liquefied … Continue reading “Oil Service Giant Baker Hughes Strongest Growth in LNG and New Energies Segments”
Halliburton Earnings Beat with Free Cash Flow Up 79% in a Year
Houston-based oil and gas servicing giant Halliburton reported better than expected fourth quarter earnings Tuesday before the market. HAL posted adjusted income of $656 million, or 72 cents per share, for the quarter compared with a 67 cent EPS consensus. It wasn’t long ago oil services companies were debt laden and loss making, free cash flow was up 79% y/y in Q4 2022. HAL followed up a mixed start to earnings season for the world’s top oilfield services providers with … Continue reading “Halliburton Earnings Beat with Free Cash Flow Up 79% in a Year”
Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter
Energy services company Baker Hughes reported weaker than expected fourth quarter earnings on Monday before the market open. However, $BKR said it had record orders of $8.0 billion for the fourth quarter. Baker Hughes reported fourth-quarter net income of $182 million, or 18 cents a share. On an adjusted basis, BKR earned 38 cents a share, up from 25 cents a share a year before. Last quarter the company reported a loss of $17 million for the second-straight quarterly loss … Continue reading “Oil Service Giant Baker Hughes Received Record Orders of $8.0 Billion in Fourth Quarter”
Oil Field Services Giant SLB Earnings Beat Expectations, Raises Dividend
The world’s largest oil fields service company SLB (formerly known as Schlumberger) reported better than expected fourth quarter earnings Friday before the market opened. SLB increased its quarterly dividend by 43%, raised it to 25.0 cents a share from 17.5 cents a share. Higher demand for its services and equipment, as producers capitalize on the global energy crisis and higher crude and natural gas production. Growth was driven by its core divisions. The oil service giant’s peers Baker Hughes (BKR) … Continue reading “Oil Field Services Giant SLB Earnings Beat Expectations, Raises Dividend”
Halliburton Earnings Doubled on Structural demand for More Oil and Gas Supply
Houston-based oil and gas servicing giant Halliburton reported better than expected third quarter earnings Tuesday before the market. HAL followed up last quarters ‘biggest since 2018 numbers’ by more than doubling the figure from a year earlier with revenue up 6% from the previous quarter. HAL stock was trading up 1.05% on the news. Improved North American and international markets for drilling, completion, and production with $HAL’s aggressive approach to cutting costs flowed through. Peers Schlumberger and Baker Hughes also … Continue reading “Halliburton Earnings Doubled on Structural demand for More Oil and Gas Supply”
Oil Drilling Ramp and Record Natural Gas Production Deliver for Schlumberger
The world’s largest oil fields service company Schlumberger reported better than expected third quarter earnings Friday before the market opened. SLB reported its strongest adjusted profit since 2015 sending $SLB up to $48.65 +2.96 (+6.48%) after the releases. Higher demand for its services and equipment, as producers capitalize on the global energy crisis and rebound in crude and natural gas prices. Growth was driven by its core divisions. Updated: The oil service giant results compared with its peers Baker Hughes … Continue reading “Oil Drilling Ramp and Record Natural Gas Production Deliver for Schlumberger”
Oil Service Giant Baker Hughes says Main Challenges are in the Rearview Mirror
Energy services company Baker Hughes reported stronger than expected third quarter earnings on Wednesday before the market open. The company still reported a loss of $17 million for the three-months for the second-straight quarterly loss this year after making $72 million in the first three months. The company took large charges after pulling out of Russia after the Ukraine invasion. $BKR shares were up 6.2% at $25.67 after the release. Updated: Peers Halliburton reported Tuesday and Schlumberger reported Friday. Baker … Continue reading “Oil Service Giant Baker Hughes says Main Challenges are in the Rearview Mirror”
What to Expect from Schlumberger Earnings with OPEC+ and Record Natural Gas Production
The world’s largest oil fields service company Schlumberger report third quarter earnings Friday before the market open, stepping up this quarter’s Energy earnings. Last quarter $SLB increased its full fiscal year outlook as it’s EPS soared 66%. Higher demand for its services and equipment, as producers capitalize on a rebound in crude and natural gas prices. Growth was driven by its core divisions. The oil service giant results compare with its peers Baker Hughes (BKR) on Wednesday and Halliburton (HAL) … Continue reading “What to Expect from Schlumberger Earnings with OPEC+ and Record Natural Gas Production”