Halliburton (NYSE:HAL) earnings for the oil field company’s fourth quarter of 2019 have HAL stock down on Tuesday. That’s after reporting adjusted earnings per share of 32 cents. This beats out Wall Street’s estimate of 29 cents. Revenue of $5.19 billion is also better than analysts’ estimates of $5.10 billion for the period.
Here are some additional highlights from the most recent Halliburton earnings report.
- Adjusted EPS is 21.95% lower than the 41 cents from the same time last year.
- Revenue is sitting 12.63% lower than the $5.94 billion from the fourth quarter of 2018.
- The current Halliburton earnings report includes an operating loss instead of operating income like in Q4 2018.
- It also switches from net income in the same period of the year prior to a net loss in the fourth quarter of 2019.
Jeff Miller, Chairman, President and CEO of Halliburton, has this to say about the HAL stock earnings report.
“I am pleased with how Halliburton executed for the fourth quarter and the full year. We optimized our performance in North America as the market softened, and our international business grew for the second year in a row. We delivered over $900 million of free cash flow for the full year 2019, demonstrating our ability to generate consistent free cash flow throughout different business environments.”
The Halliburton earnings report doesn’t include a detailed outlook for 2020. However, the company does say that it is expecting gains from its international market. That includes improved margins.
HAL stock was down slightly as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.