Halliburton, Hasbro Edge Out Earnings Expectations

Halliburton, Hasbro Edge Out Earnings Expectations
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Halliburton Company (NYSE:HAL) and Hasbro, Inc. (NASDAQ:HAS) released the earnings results from their most recently completed quarters before opening bell this morning, both coming out slightly ahead of EPS projections.

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Halliburton Company (NYSE:HAL) posted earnings from continuing operations of 73 cents per share on revenue of $7.3 billion. Analysts had been expecting the company to report earnings per share of 72 cents on revenue of $7.25 billion for the quarter.

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Hasbro, Inc. (NASDAQ:HAS) posted earnings per share of 14 cents on $679.45 million in revenue. Analysts had been expecting Hasbro to post earnings of 10 cents per share on $686.91 million in revenue.

Breaking down Halliburton’s earnings

Halliburton Company (NYSE:HAL) reported income from continuing operations was $623 million for the first quarter of this year, compared to $624 million or 67 cents per share last year, which excluded a negative impact of 68 cents a share to increase reserves in connection with the Macondo litigation. Reported losses for the first quarter last year were $13 million or 1 cent per share. Total revenue edged up year over year from $7 billion last year to $7.3 billion this year. Operating income was $970 million, compared to adjusted operating income of $902 million in the same quarter a year ago.

According to this morning’s release, Halliburton Company (NYSE:HAL) increased revenues from the Eastern Hemisphere by 11% and continue to expect low-double digi growth in the region. In Middle East and Asia, Revenue rose 13%, with Saudi Arabia improving the most. In Europe, Africa and the Commonwealth of Independent states, Halliburton’s revenue rose 9% on higher tools sales and cementing, plus more drilling and open hole wireline activity in Angola.

In Latin America, Halliburton Company (NYSE:HAL)’s revenue fell 9% year over year, mostly because of a decline in drilling-related activity in Brazil and reductions in activities in Mexico. For the full year, they expect revenue in the region to be in line with last year. In North America, revenue rose 5%. They expect margins in the region to near 20% by the end of this year.

Breaking down Hasbro’s earnings

Hasbro, Inc. (NASDAQ:HAS)’s net revenues for the first quarter of the year rose 2% from $663.7 million to $679.5 million. The toy maker noted a negative $6 million impact from foreign exchange. Earnings were $32.1 million, compared to net losses of 5 cents a share or $6.7 million in the same quarter a year ago.

According to this morning’s release, Hasbro, Inc. (NASDAQ:HAS)’s U.S. and Canada segment posted $337.7 million in revenues, a decline from last year’s $342.1 million. The toy maker noted growth in its girls toys that was offset by declines in boys, games and preschool toys. Internationally, Hasbro’s net revenues rose 5% to $305.5 million. The company also reported a 13% increase in net revenue from its entertainment and licensing segment, which rose to $34.9 million year over year, receiving a benefit from contributions from Backflip Studios.

During the first quarter of the year, Hasbro, Inc. (NASDAQ:HAS) paid $52.4 million in dividends. The next dividend of 43 cents a share will be paid on May 15 to shareholders of record on May 1. The toy maker repurchased 1.5 million shares for $80.5 million at an average price of $54.36 per share during the first quarter.

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@valuewalk.com.
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