Halliburton Company (NYSE:HAL) saw its profit fall in the most recent quarter.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. The company reported adjusted net income of 78 cents a share versus the 75 cents a share estimate and revenues of $7.23 billion versus the $6.95 billion estimate. The estimates of 22 analysts ranged from profit of 71 cents to profit of 79 cents.
Continue Reading Below
The company's income has remained about on par with last year's levels. Revenue climbed 21.9% from $5.93 billion in the same period last year.
Company Fundamental Trends With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. The company has averaged revenue growth of 32.9% over the past five quarters.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 3 cents in the first quarter, one cent in the fourth quarter of the last fiscal year and 2 cents in the third quarter of the last fiscal year.
Official Comment: "I am pleased with our second quarter results, which set a new revenue record for the total company and all three of our international regions," commented Dave Lesar, chairman, president and chief executive officer. "We continue to be successful in executing our strategy of market share growth while maintaining a focus on industry-leading returns. From a global perspective, we achieved record revenues in eight of our product service lines, with four of them - Cementing, Completion Tools, Multi-Chem, and Testing and Subsea - generating record operating income as well.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.