Profits beat forecasts at Halliburton.


Halliburton Company posted above-forecast quarterly numbers on Tuesday, despite a slowdown in the Middle East following the outbreak of war.

Source: Sharecast

The Houston, Texas-based oilfield services provider saw net income rise to $0.55 per diluted share in the three months to March end, compared to $0.24 a year previously. Analysts had been expecting net income closer to $0.50 a share.

Total revenues were largely flat at $5.4bn.

Driving the performance was a 22% spike in revenues in Latin America, and a 11% jump in Europe and Africa. That robust demand helped offset a 13% slide in the Middle East/Asia, on the back of lower activity across multiple product service lines in Saudi Arabia and decreased drilling related services in Qatar.

Chief executive Jeff Miller said he was "pleased" with first-quarter trading.

"In North America, I can see clear signs that we are in the early innings of a recovery. In international markets, our performance around the world outpaced disruptions from the Middle East conflict," he said.

As at 1330 BST, Halliburton was up 1% in pre-market trading.


ISIN: US4062161017
Exchange: New York Stock Exchange
Sell:
$ 40.06
Buy:
$ 40.08
Change: 0.75 ( 1.93 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.