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Halliburton (HAL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Halliburton (HAL - Free Report) reported revenue of $5.8 billion, up 8.3% over the same period last year. EPS came in at $0.79, compared to $0.60 in the year-ago quarter.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $5.84 billion. With the consensus EPS estimate being $0.77, the EPS surprise was +2.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Halliburton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Latin America: $1.05 billion versus $1.02 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24.6% change.
Revenues- Europe/Africa/CIS: $734 million compared to the $720.08 million average estimate based on five analysts. The reported number represents a change of +14.9% year over year.
Revenues- North America: $2.61 billion compared to the $2.61 billion average estimate based on five analysts. The reported number represents a change of -1% year over year.
Revenues- Middle East/Asia: $1.41 billion compared to the $1.48 billion average estimate based on five analysts. The reported number represents a change of +13.9% year over year.
Revenues- Drilling and Evaluation: $2.32 billion versus $2.37 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
Revenues- Completion and Production: $3.49 billion versus $3.47 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
Adjusted operating income- Completion and Production: $746 million compared to the $703.78 million average estimate based on six analysts.
Operating income (loss)- Corporate and other: -$64 million versus the six-analyst average estimate of -$79.77 million.
Adjusted operating income- Drilling and Evaluation: $378 million versus $397.23 million estimated by six analysts on average.
Shares of Halliburton have returned +1.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Halliburton (HAL) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Halliburton (HAL - Free Report) reported revenue of $5.8 billion, up 8.3% over the same period last year. EPS came in at $0.79, compared to $0.60 in the year-ago quarter.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $5.84 billion. With the consensus EPS estimate being $0.77, the EPS surprise was +2.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Halliburton performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Latin America: $1.05 billion versus $1.02 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24.6% change.
- Revenues- Europe/Africa/CIS: $734 million compared to the $720.08 million average estimate based on five analysts. The reported number represents a change of +14.9% year over year.
- Revenues- North America: $2.61 billion compared to the $2.61 billion average estimate based on five analysts. The reported number represents a change of -1% year over year.
- Revenues- Middle East/Asia: $1.41 billion compared to the $1.48 billion average estimate based on five analysts. The reported number represents a change of +13.9% year over year.
- Revenues- Drilling and Evaluation: $2.32 billion versus $2.37 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
- Revenues- Completion and Production: $3.49 billion versus $3.47 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
- Adjusted operating income- Completion and Production: $746 million compared to the $703.78 million average estimate based on six analysts.
- Operating income (loss)- Corporate and other: -$64 million versus the six-analyst average estimate of -$79.77 million.
- Adjusted operating income- Drilling and Evaluation: $378 million versus $397.23 million estimated by six analysts on average.
View all Key Company Metrics for Halliburton here>>>Shares of Halliburton have returned +1.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.