Halliburton Company, Johnson & Johnson Beat Earnings Estimates

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Halliburton Company, Johnson & Johnson Beat Earnings Estimates
By WhisperToMe (Own work) [Public domain], via Wikimedia Commons

Halliburton and Johnson & Johnson both released the earnings results from their most recently completed quarters this morning. Halliburton reported adjusted earnings of $1.19 per share on $8.8 billion in revenue, compared to $8.7 billion in the same quarter a year ago. Analysts had been expecting earnings of $1.25 per share on $8.8 billion in revenue.

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Johnson & Johnson reported adjusted earnings of $1.27 per share on $18.3 billion in revenue. Analysts had been expecting earnings of $1.25 per share on revenue of $18.6 billion for the fourth quarter.

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Breakdown of Halliburton’s earnings report

Halliburton’s net earnings were $1.06 per share, compared to 93 cents in the same quarter last year. The oil field services company reported a $129 million charge in connection with initiatives to dampen the effect of expected declines in activity.

Halliburton also reported $90 million in after-tax restructuring charges, which amounted to 11 cents per share, and 2 cents per share or $19 million in after-tax charges related to the proposed acquisition of Baker Hughes.

The company reported record full-year revenue and operating income and new revenue records for both of its divisions and 12 of its 13 products. In North America, Halliburton posted 16% revenue growth and 23% adjusted operating income growth. In the Eastern Hemisphere, revenue rose 10%, while adjusted operating income grew 12% for the full year.

Revenue from Completion and Production was $5.5 billion in the fourth quarter, while Drilling and Evaluation revenue for the quarter was $3.3 billion.

Shares of Halliburton edged upward by as much as 2% in premarket trading after this morning’s earnings report.

Breakdown of Johnson & Johnson’s earnings report

Johnson & Johnson’s net earnings were 89 cents for the quarter, compared to $1.23 per share in the same quarter a year ago. The company’s items during the fourth quarter amounted to $1.1 billion. Most of that charge was related to the litigation accrual and acquisition of Synthes.

For the full year, Johnson & Johnson reported a 4.2% increase in revenue, which rose to $74.3 billion. Full year earnings excluding items rose 8.2% year over year to $5.67 per share.

For the full 2015 fiscal year, Johnson and Johnson guided for adjusted earnings of between $6.12 and $6.27 per share.

As of this writing, shares of Johnson & Johnson were little changed in premarket trading.

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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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