Halliburton Revenue Increase Helped by All Segments Except Latin America -- Earnings Review

   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 [e-mail]

(END) Dow Jones Newswires

July 23, 2018 07:32 ET (11:32 GMT)

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