By Conor Coyle
Date: Monday 23 Jan 2017
LONDON (ShareCast) - (ShareCast News) - Oilfield services provider Halliburton echoed remarks made by traditional rival Schlumberger last week with a warning about the strength of international markets.
The US company did report better-than-expected profits during its quarterly earnings report on Monday however, despite its caution regarding upcoming quarters.
Profit excluding special items was 4 cents per share, surpassing the 2 cents per share forecast by analysts before the earnings report.
Revenues for the final quarter of 2016 failed to reach consensus expectations of $4.07bn, coming in at $4.02bn.
Halliburton's numbers are significantly lower than those posted in the corresponding quarter of 2015, with earnings per share 87% lower.
The company's share price was down almost 3% at the open after the results were released.
"Despite the positive sentiment surrounding the North American land market, it is important to remember that our world is still a tale of two cycles," Chief Executive Dave Lesar said in a statement. "The North America market appears to have rounded the corner, but the international downward cycle is still playing out."
The US earnings season is in full swing with over 100 S&P 500 companie set to report their quarterly figures this week.
Email this article to a friend
or share it with one of these popular networks:
Currency | US Dollars |
Share Price | $ 32.92 |
Change Today | $ -0.85 |
% Change | -2.52 % |
52 Week High | $43.26 |
52 Week Low | $30.89 |
Volume | 7,004,239 |
Shares Issued | 1,065.00m |
Market Cap | $35,060m |
RiskGrade | 270 |
Strong Buy | 11 |
Buy | 12 |
Neutral | 3 |
Sell | 0 |
Strong Sell | 0 |
Total | 26 |
Time | Volume / Share Price |
16:00 | 754,374 @ $32.92 |
15:59 | 100 @ $32.91 |
15:59 | 100 @ $32.91 |
15:59 | 457 @ $32.90 |
15:59 | 100 @ $32.90 |
You are here: research