Halliburton Clocks 29.7% Revenue Growth In Q3, Misses Consensus

  • Halliburton Co HAL reported third-quarter FY21 revenue growth of 29.7% year-over-year to $3.86 billion, missing the consensus of $3.91 billion.
  • Completion and Production revenue increased 35.7% Y/Y to $2.14 billion, and the corresponding operating income increased by 51.9% Y/Y to $322 million.
  • Drilling and Evaluation increased by 23.1% Y/Y to $1.72 billion, and operating income was up 77.1% Y/Y to $186 million.
  • Adjusted EPS improved to $0.28 from $0.11 in 3Q20, in line with the consensus of $0.28.
  • The operating income increased to $446 million, compared to $142 million, and the margin expanded by 678 bps to 11.6%.
  • Halliburton generated cash from operating activities year-to-date of $1.23 billion, compared to $1.24 billion a year ago. Free cash flow was $891 million.
  • The company retired $500 million of debt and held cash and equivalents of $2.6 billion at the end of the quarter.
  • Price Action: HAL shares are trading lower by 1.73% at $25.56 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!