In-Line Earnings:World’s No. 2 oilfield-services company Halliburton Company (HAL Quick QuoteHAL - Free Report) reported first quarter adjusted net income per share of 23 cents, same as the Zacks Consensus Estimate.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 7 days.

Nonetheless, Halliburton have an impressive earnings surprise history. The company beat/matched estimates in three of the prior four quarters, as shown in the chart below:

Overall, the company has a positive earnings surprise of 2.79% in the trailing four quarters.

Revenues: Halliburton posted revenues of 5.7 billion, which were approximately flat with the year-ago quarter and scraped past the Zacks Consensus Estimate by 3.5%.

Key Stats: Operating income from the Completion & Production segment was $368 million, lower than the year-ago level of $500 million. Our current consensus estimates called for a lower operating income of $335 million.

Halliburton’s Drilling & Evaluation unit profit deteriorated from $188 million in the first quarter of 2018 to $123 million this year. The number was also below the Zacks Consensus Estimate of $146 million.

Zacks Rank: Currently, Halliburton carries a Zacks Rank #3 (Hold).

(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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