Halliburton Reports Flat Sales, Profit Helped By Tax Benefit
January 22 2019 - 7:37AM
Dow Jones News
By Micah Maidenberg
Halliburton Co. (HAL) said profit rose to $664 million, or 76
cents a share, in the fourth quarter, but the oilfield services
company reported weakness in the North American market and
abroad.
Earnings at Halliburton swung to a gain compared with last year,
when the company reported a loss of $824 million, or 94 cents a
share.
Profit surpassed the 37 cents a share that analysts polled by
FactSet expected.
The company said Tuesday that excluding a tax benefit it
recognized in the quarter adjusted earnings were 41 cents a
share.
Sales of $5.94 billion were flat compared with the fourth
quarter of 2017, but more than the $5.86 billion analysts
predicted, according to FactSet.
Overall, North America revenue of $3.34 billion in the fourth
quarter was down slightly from the year earlier, when the company
booked $3.4 billion in sales in the region. Sales were down 2%
overseas, gaining only in the company's Middle East and Asia
region.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
January 22, 2019 07:22 ET (12:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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