Halliburton Revenue Increase Helped by All Segments Except Latin America -- Earnings Review
July 23 2018 - 7:47AM
Dow Jones News
By Allison Prang
Halliburton Co. (HAL) released its second-quarter financial
results before the market opened Monday. Here's what you need to
know.
PROFIT: Halliburton reported a profit of $511 million, or 58
cents a share up from $28 million or 3 cents a share in the
comparable quarter a year ago. Analysts polled by Thomson Reuters
were expecting earnings of 58 cents a share. Last year's bottom
line was hit by a $262 million impairment charge. At the same time,
Halliburton's operating income was also higher for the second
quarter of this year, helping the company's bottom line.
REVENUE: Total revenue rose 24% to $6.15 billion. Analysts were
expecting $6.11 billion. Revenue rose in all geographic segments
except Latin America.
COMMENTARY: Chief Executive Jeff Miller said in prepared remarks
that "despite pricing levels that have yet to fully rebound from
the recent down cycle, we are achieving outstanding margins."
Shares, down 7.5% year to date, fell 1.7% premarket.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 23, 2018 07:32 ET (11:32 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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