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Halliburton Q3 Profit Tops Estimates

Halliburton Company (HAL) reported an increase in profit for the third-quarter that also topped Wall Street estimates, however, revenues fell short of expectations. Excluding special items, the company recorded adjusted operating income of $458 million in the third quarter of 2021.

Third quarter adjusted net income attributable to company increased to $248 million from $100 million, last year. Adjusted net income per share was $0.28 compared to $0.11. On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27, for the quarter. Analysts' estimates typically exclude special items. Net income attributable to company was $236 million or $0.26 per share compared to a loss of $17 million or $0.02 per share.

Total revenue increased to $3.86 billion from $2.98 billion, previous year. Analysts expected revenue of $3.91 billion, for the quarter.

Shares of Halliburton were down 0.5% in pre-market trade on Tuesday.

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