Halliburton First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Halliburton (NYSE:HAL) First Quarter 2024 Results

Key Financial Results

• Revenue: US$5.80b (up 2.2% from 1Q 2023).

• Net income: US$606.0m (down 6.9% from 1Q 2023).

• Profit margin: 10% (down from 12% in 1Q 2023). The decrease in margin was driven by higher expenses.

• EPS: US$0.68 (down from US$0.72 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Halliburton Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 9.7%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are up 1.8% from a week ago.

Valuation

Halliburton's financial results now indicate the company's shares could present an opportunity based on 6 important indicators. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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