- Reports Q1 EPS of $0.55, beating the $0.50 consensus estimate.
- Revenue of $5.4 billion was flat year-over-year but topped expectations.
- Strong growth in Latin America and Europe offset a 13% drop in Middle East revenue.
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Halliburton Stock Rises 2% as Q1 Earnings Beat Estimates by 10%
Halliburton Co. (HAL) reported first-quarter earnings of 55 cents per share, beating Wall Street estimates by 10 percent and sending its stock up nearly 2 percent in early trading.
"In international markets, our performance outpaced the disruptions caused by the Middle East conflict," CEO Jeff Miller said in a statement. "In North America, there are clear signs of a recovery in the works."
The oilfield services giant posted revenue of $5.4 billion, roughly flat from a year ago but ahead of the $5.3 billion consensus. The company said the ongoing conflict in the Middle East reduced its earnings per share by 2 to 3 cents.
Shares of Halliburton rose 1.7% to $37.30 in pre-market trading. The beat comes as investors watch for the impact of geopolitical instability on the energy sector, with the Iran conflict creating both higher oil prices and operational disruptions.
Regional Breakdown Shows Divergence
Halliburton’s results showed a significant divergence in regional performance. Revenue from Latin America surged 22% year-over-year to $1.1 billion, driven by activity in Brazil, the Caribbean, and Ecuador. The Europe/Africa segment also saw a robust 11% increase to $858 million.
This strength was offset by a 13% decline in the Middle East/Asia region, where revenue fell to $1.3 billion. The company cited lower activity in Saudi Arabia and reduced drilling services in Qatar as the primary reasons for the drop. North American revenue also dipped 4% to $2.1 billion.
Analyst Commentary and Outlook
The stronger-than-expected results, despite the Middle East headwinds, were received positively by the market. Last week, analysts at Citigroup, Morgan Stanley, and Piper Sandler all raised their price targets on Halliburton. UBS also increased its target to $39 from $35 while maintaining a neutral rating, noting the company's relatively smaller exposure to regional slowdowns compared to its peers.
The report signals that demand for oilfield services remains strong in key international markets, even as geopolitical tensions disrupt operations in the Middle East. Investors will be watching the company’s next earnings call on July 23 for further details on the North American recovery and the ongoing impact of the Iran conflict.
This article is for informational purposes only and does not constitute investment advice.
[1] Morning Brief: Mr. Warsh goes to Washington[2] Halliburton Stock Rises as Earnings Beat. How It Offset Oil Disruption in Middle East.[3] Halliburton’s earnings take a hit from the Iran conflict, but they still top forecasts[4] Halliburton Earnings Beats Q1 Views. Oilfield Services Giant Rising From Key Level.[5] Halliburton beats profit estimates on oilfield services demand in Latin America, Europe[6] Halliburton (HAL) Q1 earnings and revenues surpass estimates
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