Oil service bellwether Halliburton Company (HAL - Free Report) reported higher-than-expected second quarter profit on robust international activity. The world's second-largest oilfield services company after Schlumberger (SLB - Free Report) saw its adjusted net income (excluding impairments and other charges) come in at 35 cents per share, outperforming the Zacks Consensus Estimate of 30 cents.
However, the bottom line was below the adjusted earnings of 58 cents in the year-earlier quarter on weakness in the North American market. Operatingincome reported by Halliburton was $303 million, well below the $789 million for the same period last year.
Meanwhile, revenues of $5.9 billion were 3.5% lower than the year-ago quarter and missed the Zacks Consensus Estimate by a marginal 0.6%. North American revenue fell 13.2% year over year to $3.3 billion. Revenue from Halliburton’s international operations rose 12.5% from the year-ago period to $2.6 billion, an area that continues to exhibit growth momentum.
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Oil service bellwether Halliburton Company (HAL - Free Report) reported higher-than-expected second quarter profit on robust international activity. The world's second-largest oilfield services company after Schlumberger (SLB - Free Report) saw its adjusted net income (excluding impairments and other charges) come in at 35 cents per share, outperforming the Zacks Consensus Estimate of 30 cents.
However, the bottom line was below the adjusted earnings of 58 cents in the year-earlier quarter on weakness in the North American market. Operatingincome reported by Halliburton was $303 million, well below the $789 million for the same period last year.
Meanwhile, revenues of $5.9 billion were 3.5% lower than the year-ago quarter and missed the Zacks Consensus Estimate by a marginal 0.6%. North American revenue fell 13.2% year over year to $3.3 billion. Revenue from Halliburton’s international operations rose 12.5% from the year-ago period to $2.6 billion, an area that continues to exhibit growth momentum.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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