The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Halliburton met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share contracted.
Margins contracted across the board.
Halliburton booked revenue of $7.11 billion. The 22 analysts polled by S&P Capital IQ expected a top line of $7.17 billion on the same basis. GAAP reported sales were 8.6% higher than the prior-year quarter's $6.55 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 $0.67. The 29 earnings estimates compiled by S&P Capital IQ predicted $0.68 per share. GAAP EPS of $0.64 for Q3 were 14% lower than the prior-year quarter's $0.74 per share. (The prior-year quarter included -$0.18 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 13.4%, 810 basis points worse than the prior-year quarter. Operating margin was 13.4%, 690 basis points worse than the prior-year quarter. Net margin was 8.5%, 190 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $7.24 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $28.43 billion. The average EPS estimate is $3.05.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halliburton is outperform, with an average price target of $44.50.
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