Categories AlphaGraphs, Analysis, Earnings, Other Industries

Earnings preview: Sentiment remains bleak around Halliburton’s Q2 2019 results

Halliburton Company (NYSE: HAL) is scheduled to report second quarter 2019 earnings results on Monday, July 22, before market open. Both revenue and earnings are expected to decline on a year-over-year basis. Analysts have projected earnings of $0.30 per share on revenue of $5.97 billion.

In the last four quarters, the company has beaten earnings estimates only twice. For the second quarter, the general sentiment around Halliburton’s performance appears bleak. The company’s challenges from last quarter are likely to continue, namely weakness in its main region and strategic changes in the capital allocation plans of major oil companies.

Halliburton reports first quarter 2019 earnings

Most of the leading oil companies are now focusing on improving their shareholder returns rather than overspending on production and expansion activities. This approach is likely to hurt service providers like Halliburton due to lower demand.

The company has also been seeing weakness in North America, which is its main region and this is likely to have a negative effect on its quarterly results. However, Halliburton’s international operations continue to be strong and this momentum is likely to continue in the second quarter as well.

In the first quarter of 2019, Halliburton topped market estimates on revenue while earnings matched expectations. Total revenue remained flat at $5.7 billion while adjusted EPS fell 44% to $0.23.

Revenues declined in the Completion and Production segment while the Drilling and Evaluation segment posted single-digit revenue growth. Revenues in the North America region fell 7%, mainly due to lower prices for stimulation services, but revenues across all the international regions saw increases.

Halliburton’s shares have dropped 52% in the trailing 52 weeks and over 19% year to date. The stock was down 2% in mid-day trade on Thursday.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Should you buy Domino’s Pizza (DPZ) stock ahead of Q3 earnings?

The fast-food industry is among the worst affected by the inflation-induced dip in consumer confidence, which is weighing on the demand for discretionary items. Domino’s Pizza, Inc.  (NYSE: DPZ) is

Infographic: Key highlights from Paychex (PAYX) Q1 2023 earnings results

Paychex Inc. (NASDAQ: PAYX) reported first quarter 2023 earnings results today. Total revenue rose 11% year-over-year to $1.20 billion. Net income grew 14% to $379.2 million, or $1.05 per share,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top