Halliburton Shares Rise After Earnings
October 21 2019 - 9:44AM
Dow Jones News
By Patrick Thomas
Shares of Halliburton Co. (HAL) were up about 6%, to $19.51,
after the oilfield services company reported its latest quarterly
earnings.
The Houston-based company reported a lower profit and said its
revenue fell to $5.56 billion from $6.17 billion a year earlier.
Analysts had expected $5.82 billion of revenue in the quarter.
"We expect the stock to trade in-line with the market, on a
blend of impacts including in-line earnings (neutral), continued
international momentum (positive), and notable North American
declines (the new playbook a positive, but offset by the challenged
market conditions)," analysts at Stephens said in a research
note.
On a conference call with analysts, Finance Chief Lance Loeffler
said the company expects fourth-quarter revenue for its drilling
and evaluation unit to be flat to up low single digits
sequentially, with margin improvement in the range of 425 basis to
475 basis points.
"This is driven by year-end software and product sales combined
with activity increases across our international markets, offset by
lower demand in North America," he said.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
October 21, 2019 10:29 ET (14:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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