Halliburton Company (NYSE:HAL) released its earnings report for the three months ended September 30 this morning before the bell rang on Wall Street. The company showed earnings of $0.83 per share. Revenues for the third quarter of the year came in at $7.5 billion. Pre-market traders seemed little impressed with Halliburton’s performance. The company’s stock was down a little over 1.5% at time of writing.
In the same three months of last year Halliburton Company (NYSE:HAL) managed to earn 67 cents per share on revenues totaling $7.1 billion. The fall in the company’s stock on today’s market appears to have stemmed from a less than exceptional performance form the oilfied services company. Last Friday saw two of the company’s competitors, Schlumberger Limited and Baker Hughes Incorporated report better than expected earnings
This morning’s report form Halliburton Company (NYSE:HAL) was in line with expectations from analysts. they predicted the firm would earn 82 cents per share on revenue of $7.5 billion. Halliburton stock opened close to three percent higher on Friday, however, as investors anticipated better than expected results across the board.
Despite being in line, Halliburton Company (NYSE:HAL) earnings showed less exciting numbers than those of its competitors last Friday. Apart form that the company appears to be operating in line and with stability. Investors seem to be expecting a lot of growth from the company, and the sector, in the coming years.
Halliburton Company (NYSE:HAL) shares have risen in value by more than 50% since the start of the year. The company’s business is expected to boom as oil becomes more difficult and more expensive to reach. Shares in the firm are trading at a P/E of more than 26 indicating a huge amount of belief in growth at the firm.
Management at Halliburton Company will host a conference call at 9:30 AM EST in order to discuss these results with investors and analysts. The company;s under-performance relative to the competition will be on the minds of many on the call.