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Halliburton Earnings: HAL Stock Heads 6% Higher on Q3 Results

Halliburton (NYSE:HAL) earnings for the oil field services company’s third quarter of 2019 has HAL stock soaring on Monday. This is due to the company’s earnings per share of 34 cents, which matches Wall Street’s estimate for the quarter. Revenue of $5.55 billion is below analysts’ estimate of $5.81 billion but wasn’t keeping HAL stock down today.

Halliburton Earnings: HAL Stock Heads 6% Higher on Q3 Results
Source: Casimiro PT / Shutterstock.com

Now let’s take a closer look at the most recent Halliburton earnings report.

  • EPS for the quarter is down 32% from the 50 cents reported in the same time last year.
  • The company’s revenue is 10.05% lower YoY compared to $6.17 billion.
  • Operating income for the period comes in at $536 million.
  • That’s a 25.14% drop from its operating income of $716 million in the same period of the year prior.
  • The Halliburton earnings report also includes a net income of $296 million.
  • This is a 31.80% decrease from its net income of 434 million in the third quarter of 2018.

Jeff Miller, Chairman, President, and CEO of Halliburton said of the Q3 HAL stock earnings.

“International revenue, which was flat sequentially, was up 10% year to date and we remain confident that we will achieve high single-digit international growth for all of 2019. International growth continues across multiple regions, benefitting both our Drilling and Evaluation and Completion and Production divisions.”

Halliburton doesn’t talk about its outlook for the full year of 2019 in its third-quarter earnings report. However, we know that Wall Street is expecting per-share earnings of $1.26 on revenue of $23.20 billion for the year.

HAL stock was down 6.30% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/halliburton-earnings-q3-send-hal-stock-soaring/.

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