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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard


Add Comment
Viewing Highlight