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Halliburton missed the earnings expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Everything fell short of expectations for Halliburton.

As we entered the earnings season, another company released its Q2 financial report. One of the world's largest oil field service companies, the 101 year-old Halliburton, surprised the market.

The company reported a $1.68 billion net loss, or $1.91/share, compared to $75 million last year. Its revenue fell short off the $3.31 billion consensus to $3.20 billion. This quarter's income is 46% lower than last year's. The adjusted EPS was at 5 cents. The production revenue dropped by 56% to $1.67 billion, missing the $1.70 billion consensus. 

Another revenue that came in lower is the one from drilling and evaluation. The figures are below the $1.62 billion expected, at $1.52 billion – 56% lower than the previous figures.

According to the company's statement, the results came from a decrease in drilling-related services and pumping activity.

During today's pre-market trading, the stock price fell by 2.5%. This year, the stock price fell 46.6%, while USA500 lost 0.2%.

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Sources: thestreet.com, marketwatch.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.