The 10-second takeaway
For the quarter ended June 30 (Q2), Halliburton beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share dropped.
Margins contracted across the board.
Halliburton recorded revenue of $7.23 billion. The 18 analysts polled by S&P Capital IQ expected revenue of $6.92 billion on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $5.94 billion.
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 $0.80. The 25 earnings estimates compiled by S&P Capital IQ anticipated $0.75 per share. GAAP EPS of $0.79 for Q2 were 1.3% lower than the prior-year quarter's $0.80 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 16.6%, 410 basis points worse than the prior-year quarter. Operating margin was 16.6%, 300 basis points worse than the prior-year quarter. Net margin was 10.2%, 230 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $7.11 billion. On the bottom line, the average EPS estimate is $0.77.
Next year's average estimate for revenue is $28.37 billion. The average EPS estimate is $3.24.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halliburton is outperform, with an average price target of $44.70.
- Add Halliburton to My Watchlist.