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Halliburton (HAL) Posts In-Line Earnings, Revenues Miss

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Earnings Meet: World’s No. 2 oilfield-services company Halliburton Company (HAL - Free Report) reported first quarter income per share from continuing operation (adjusted for Venezuela write-downs) of 41 cents, in line with the Zacks Consensus Estimate. Strong North American drilling activity on the back of oil pricing strength were offset by problems in Venezuela and frack sand delivery delays.

Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for first-quarter earnings being revised 6.8% downward over the last 30 days.

Nonetheless, Halliburton have an impressive earnings surprise history. Before posting the earnings meet in Q1, the company delivered positive surprises in all prior four quarters, as shown in the chart below:

Halliburton Company Price and EPS Surprise

 

Halliburton Company Price and EPS Surprise | Halliburton Company Quote

Overall, the company has a positive earnings surprise of 20% in the trailing four quarters.

Revenues: Halliburton posted revenues of $5,740 million, missing the Zacks Consensus Estimate of $5,760 million. However, it compared favorably with the year-ago number of $4,279 million.

Key Stats: Operating income from the Completion & Production segment was $500 million, significantly higher than the year-ago level of $147 million. Our current consensus estimates called for a higher operating income of $534 million.

Halliburton’s Drilling & Evaluation unit profit improved from $122 million in the first quarter of 2017 to $188 million this year. But the number was below the Zacks Consensus Estimate of $180 million.

Zacks Rank: Currently, Halliburton carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this Halliburton earnings report later!

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