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Halliburton (HAL) Q1 Earnings Beat Estimates, Sales Miss Mark

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Earnings: World’s No. 2 oilfield-services company Halliburton Company (HAL - Free Report) reported first quarter adjusted net income per share of 31 cents, beating the Zacks Consensus Estimate of 25 cents.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 60 days.

Nonetheless, Halliburton have a decent earnings surprise history. The company beat/matched estimates in two of the prior four quarters, as shown in the chart below:

Halliburton Company Price and EPS Surprise

Halliburton Company Price and EPS Surprise

Halliburton Company price-eps-surprise | Halliburton Company Quote


Overall, the company has a positive earnings surprise of 6.75% in the trailing four quarters.

Revenues: Halliburton posted revenues of $5 billion, which were lower than the year-ago quarter figure of $5.7 billion and missed the Zacks Consensus Estimate by 0.8%.

Key Stats: Operating income from the Completion & Production segment was $345 million, lower than the year-ago level of $368 million. Our current consensus estimates called for a lower operating income of $344 million.

Halliburton’s Drilling & Evaluation unit profit improved from $123 million in the first quarter of 2019 to $217 million this year. Moreover, the number was above the Zacks Consensus Estimate of $164 million.

Zacks Rank: Currently, Halliburton carries a Zacks Rank #3 (Hold).

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

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

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