Halliburton Posts Mixed Q3 Earnings, Cites Stable North American Business

Halliburton Company HAL reported Q3 FY23 revenue of $5.804 billion, missing the consensus of $5.855 billion.

Operating income increased to $1.037 billion from $846 million a year ago, and the margin of 17.9%. 

Adjusted EPS was $0.79, beating the consensus of $0.77.

Completion and Production revenue increased to $3.487 billion from $3.136 billion a year ago, and the corresponding operating income rose to $746 million from $583 million the prior year.

Drilling and Evaluation revenue increased to $2.317 billion from $2.221 billion prior year, and operating income grew to $378 million from $325 million a year ago.

Total cash flows provided by operating activities year-to-date totaled $2.048 billion.

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In Q3, Halliburton repurchased $198 million of common stock.

"Halliburton delivered an impressive third quarter and our margin strength demonstrated the power of our strategy. I am pleased with the stability of our North America business and the profitability of our International growth," said Jeff Miller, Chairman, President and CEO.

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Price Action: HAL shares are trading lower by 1.06% at $41.21 premarket on the last check Tuesday.