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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Restaurant Association or NRA has urged the U.S. Congress to refill the Restaurant Revitalization Fund or RRF, which is expected to save more than 1.6 million jobs in the restaurant industry hit hard by the surge in Omicron Variant. In a letter to Congress, the association highlighted, based on its survey on 4,200 restaurant operators, the devastating impact so far on the industry... Industrial conglomerate General Electric Co. reported Tuesday a net loss for the fourth quarter compared to a profit last year, hurt by steep debt extinguishment costs and lower revenues. However, adjusted earnings per share topped analysts' expectations, while quarterly revenues missed them. Shares of LM Ericsson were gaining more than 7 percent in Swedish trading as well as in pre-market activity on Nasdaq, after the telecom equipment maker reported Tuesday higher profit and sales in its fourth quarter with strong demand. Further, the company lifted its full-year dividend, and maintained targets for fiscal 2022 EBIT growth as well as long-term target of EBITA margin.
Follow RTT