• Halliburton’s adjusted EPS for the first quarter was 76 cents, which is more than the estimated 74 cents.
• The reported EPS was 68 cents, which is down from 72 cents compared to a year ago.
• First quarter revenue was $5.80 billion, a 2.2% increase from the same time the previous year. This beat the predicted revenue of $5.66 billion.
• Revenue from Completion and Production was $3.37 billion, down 1.1% from a year ago. This still managed to top the estimated figure of $3.28 billion.
• Drilling and Evaluation revenue hit $2.43 billion, a 7.2% increase year on year, which outpaced the forecast of $2.37 billion.
• North American revenue decreased by 7.9% compared to the previous year, earning $2.55 billion. This number still went beyond the estimated $2.43 billion.
• Latin American revenue surged by 21% year on year, totaling $1.11 billion and beating the forecast of $1.01 billion.
• Europe, Africa and CIS earnings increased by 10%, hitting $729 million, which was slightly less than the estimated $747 million.
• Revenue from the Middle East and Asia rose by 6.4% year on year to reach $1.42 billion, which is less than the predicted $1.47 billion.
• Operating income came in at $987 million, up 1% compared to the previous year and beating the estimate of $972.5 million.
• Drilling and Evaluation operating income was $398 million, reflecting a 7.9% year on year increase, and just missing the forecast of $399.1 million
• Completion & Production operating income was $688 million, an increase of 3.3% year on year, and above the estimate of $660 million.
• Cash flow from operations stood at $487 million, up markedly from $122 million the previous year but below the estimated figure of $534.5 million.
• Capital expenditure saw an increase of 23% year on year, reaching $330 million, falling below the estimate of $337.2 million.
• Analysts’ opinions on the stock are largely positive, with 25 buys, 4 holds, and 0 sells.
Halliburton Co on Smartkarma
Analyst coverage of Halliburton Co on Smartkarma, an independent investment research network, has been positive. Baptista Research, one of the top independent analysts on the platform, published research on Halliburton Co’s recent performance and future prospects. In their report titled “Halliburton Company: Will The Recent Technology Advancements Become Their Biggest Growth Catalyst? – Major Drivers,” Baptista Research highlighted the company’s strong fourth-quarter earnings in 2023. They noted that both divisions, completion and production, and drilling and evaluation, achieved their highest operating margins in over a decade. Despite challenges like exiting Russia in August 2022, Halliburton Co reported a 13% increase in total company revenue and a 33% rise in operating income compared to the previous year.
In another report by Baptista Research titled “Halliburton Company.: Initiation of Coverage – Business Strategy,” the analyst covered Halliburton Co’s overall business strategy. Despite revenues falling below analyst expectations in the previous quarter, the company managed to beat earnings estimates. Baptista Research emphasized that Halliburton Co’s strategic execution during the extended upcycle in the oilfield services sector reaffirms its path to sustained success. These reports by Baptista Research provide valuable insights for investors looking to understand and evaluate the investment potential of Halliburton Co in the current market environment.
A look at Halliburton Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have outlined Halliburton Co‘s long-term outlook using Smart Scores that rate various aspects of the company. With a solid Growth score of 5, Halliburton Co shows great promise in expanding its operations in the energy industry. Coupled with a Momentum score of 4, the company seems to be on a positive trajectory for future performance. Despite a slightly lower Resilience score of 2, Halliburton Co‘s overall outlook appears optimistic.
While Halliburton Co may not score the highest in terms of Value and Dividend at 3 each, its strong growth potential and positive momentum indicate a promising outlook for investors. As a provider of energy services and engineering solutions for the oil and natural gas sector, Halliburton Co is well-positioned to capitalize on opportunities in the energy industry in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
