Halliburton Company Q1 Mixed As Int'l Markets Lag

Halliburton Company (NYSE:HAL) early Monday posted mixed first quarter earnings results, as profit topped expectations but revenue fell short.

Written by StockNews.com

The Houston-based oilfield services giant reported Q1:

earnings per share (EPS) of $0.04, which was $0.01 better than the Wall Street consensus estimate of $0.03,

revenues rose 1.9% from last year to $4.28 billion, just shy of analysts’ view for $4.3 billion,

revenue was up 6% on a sequential basis from the fourth quarter.

U.S. land revenue growth of almost 30% set the pace in the latest period,
while international markets lagged.
- Eastern Hemisphere revenue plunged 12% sequentially, but
- Latin America gained 8% sequentially.

The company commented via press release:

“First quarter revenue in North America increased 24% sequentially, significantly outperforming our largest peer. This result was primarily driven by increased activity in our pressure pumping and well construction product service lines.

The first quarter is best described as one of change, but I love the opportunity that is developing in North America because our strategy is designed to take advantage of that opportunity.”

Halliburton Company shares rose $0.53 (+1.13%) in premarket trading Monday. Year-to-date, HAL has declined -12.70%, versus a 5.40% rise in the benchmark S&P 500 index during the same period.

HAL currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #14 of 52 stocks in the Energy – Services category.