Categories AlphaGraphs, Earnings, Energy

Halliburton Company (HAL) Q3 earnings meet estimates, revenues miss

Halliburton Company (NYSE: HAL) reported in-line earnings for the third quarter of 2019. Meanwhile, revenues declined and missed the Street view. The company’s stock dropped modestly during Monday’s pre-market session, after the announcement.

Halliburton (HAL) reports stronger-than-expected Q3 results

Total revenues declined 10% year-over-year to $5.6 billion and missed the estimates, mainly hurt by the continuing weakness in North American operations. Net income attributable to the company was $295 million, or $0.34 per share, compared to $435 million, or $0.50 per share, in the year-ago period.

Earnings Beat

Adjusted net income totaled $303 million or $0.35 per share. Earnings matched analysts’ consensus estimate. The results were negatively impacted by the muted top-line performance and lower margins.

Related: Schlumberger makes modest gains post Q3 results

Completion and Production revenues slipped 16% annually to $3.51 billion, while Drilling and Evaluation revenue rose 2% to $2.04 billion.

Revenue Break-up

Region-wise, revenues in North America dropped 21% annually to $2.95 billion, while Latin American revenues rose 16% to $608 million. At $832 million, revenues at Europe, Africa and CIS ware up 10% year-over-year. Middle East/Asia revenue was broadly flat at $1.16 billion.

CEO Jeff Miller said, “International revenue, which was flat sequentially, was up 10% year to date and we remain confident that we will achieve high single-digit international growth for all of 2019. International growth continues across multiple regions, benefitting both our Drilling and Evaluation and Completion and Production divisions.”

Outlook

Going forward, the management expects to leverage the international recovery and improvement in the North American Market and generate strong free cash flow and produce strong returns.

Also see: Halliburton Q2 2019 Earnings Call Transcript

Shares of Halliburton slipped to a ten-year low last week and traded below the $20-mark, continuing the downturn that started more than a year ago. The stock closed the last trading session lower.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

Here’s a look at Dollar Tree’s (DLTR) expectations for the remainder of the year

Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings

Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop

Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported

Is Zoom Video Communications (ZM) a good investment after Q3 earnings?

Zoom Video Communications (NASDAQ: ZM) expanded its customer base at an accelerated pace during the COVID crisis and soon became the preferred video conferencing platform for businesses and millions of

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