Dahlman Rose & Co. Continues To See Halliburton Earnings Growth In North America

Halliburton Company HAL reported 3Q10 EPS of $0.58, versus consensus of $0.56 and Dahlman Rose & Co.'s estimate of $0.57. “Strong North American earnings from activity in unconventional plays and strong pressure pumping led the earnings beat,” Dahlman Rose & Co. writes. “As foreshadowed in recent oil service industry investor presentations, performance in Latin America (Mexico), Europe (North Sea), and Africa (Algeria, offshore) came in slightly below expectations.” Dahlman Rose & Co. continues to see North American earnings growth amid falling natural gas prices and customer funding gaps, greeted by falling earnings multiples that discount a declining growth profile. Halliburton currently trades for $33.30.