Halliburton Q3 revenue, profit beat estimates on higher drilling services

Halliburton

Tue 11:53

Overview
Oilfield services provider's Q3 revenue rose and beat analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company repurchased $250 mln of its shares in Q3

Outlook
Halliburton expects mid-single digit revenue growth in 2027
Company forecasts 2027 operating margins of about 15%, up roughly 200 basis points
Outlook assumes a flat North America market; any recovery in hydraulic fracturing seen as upside

Result Drivers
SEGMENT PERFORMANCE - Drilling and Evaluation segment revenue and operating income increased, driven by improved activity in the Middle East and Latin America and higher drilling services in the Western Hemisphere
REGIONAL VARIATION - International revenue grew, led by higher activity in the Middle East, while North America revenue declined due to lower pressure pumping services
COMPLETION AND PRODUCTION - Segment revenue and operating income fell, mainly due to lower stimulation activity in the Western Hemisphere, partially offset by increased activity in the Middle East

Company press release: ID:nBw7Mg8Bwa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$5.70 bln
$5.58 bln (17 Analysts)
Q3 Adjusted EPS
Beat
$0.60
$0.58 (23 Analysts)
Q3 EPS
 
$0.50
 
Q3 Adjusted Net Income
Beat
$501 mln
$485.69 mln (14 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Halliburton Company is $43.00, about 30.4% above its October 19 closing price of $32.98
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)