The 10-second takeaway
For the quarter ended June 30 (Q2), Halliburton met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. GAAP earnings per share shrank.
Gross margins grew, operating margins dropped, net margins dropped.
Halliburton reported revenue of $7.32 billion. The 22 analysts polled by S&P Capital IQ predicted revenue of $7.26 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.73. The 32 earnings estimates compiled by S&P Capital IQ anticipated $0.72 per share. GAAP EPS of $0.73 for Q2 were 7.6% lower than the prior-year quarter's $0.79 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.3%, 380 basis points better than the prior-year quarter. Operating margin was 14.2%, 240 basis points worse than the prior-year quarter. Net margin was 9.3%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $7.57 billion. On the bottom line, the average EPS estimate is $0.84.
Next year's average estimate for revenue is $29.66 billion. The average EPS estimate is $3.16.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halliburton is outperform, with an average price target of $51.18.
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