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Halliburton (HAL) Q4 Earnings Beat Estimate, Misses Revenue

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Have you been eager to see how Halliburton Company (HAL - Free Report) – the world’s No. 2 oilfield-services company – performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Houston, TX-based company’s earnings release this morning:

About Halliburton: Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial, and government sectors. The company operates under two main segments: Completion and Production, and Drilling and Evaluation.

Zacks Rank & Surprise History: Currently, Halliburton has a Zacks Rank #1 (Strong Buy) but that could change following its fourth quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Coming to earnings surprise history, the company has an excellent track record: its beaten estimates in each of the last four quarters at an average rate of 61.20%.

Halliburton Co. Price and EPS Surprise

 

Halliburton Co. Price and EPS Surprise | Halliburton Co. Quote

Estimate Revision Trend: Investors should note that the earnings estimate revisions for Halliburton was unmoved prior to the earnings release. The Zacks Consensus Estimate remained the same over the last 7 days.

We have highlighted some of the key details from the just-released announcement below:

A Better-than-Expected Profit: Adjusted income per share from continuing operation (excluding special items) came in at 4 cents, above the Zacks Consensus Estimate of 2 cents. Continued and effective cost management led to the outperformance.

Revenue Came in Lower than Expected: Halliburton posted revenues of $4,021 million, narrowly missing the Zacks Consensus Estimate of $4,071.9 million. Moreover, revenues deteriorated 21% on a year-over-year basis.

Key Stats: Operating income from the Completion & Production segment was $85 million, falling sharply from the year-ago profit of $144 million. However, the division improved significantly from previous quarter’s income of $24 million.

Halliburton’s Drilling & Evaluation unit profit also dropped big time – from $399 million in the fourth quarter of 2015 to $248 million this year. However, the number was way above the $151 million earned in the Sep quarter.

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

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