Halliburton Company (HAL), Hasbro, Inc. (HAS) Beat Earnings Estimates

Halliburton Company (HAL), and Hasbro released their latest earnings reports before opening bell this morning. Halliburton posted adjusted earnings of 44 cents per share and revenue of $5.92 billion. Analysts had been expecting earnings of 29 cents per share and revenue of $5.8 billion. In the same quarter last year, adjusted earnings were 44 cents per share, while revenue was $8.05 billion.

Hasbro, Inc. (HAS) reported earnings of 33 cents per share on revenue of $797.7 million, a 4% year over year decline. Analysts had been looking for earnings of 29 cents per share and revenue of $774 million. In last year’s second quarter, the toy maker reported earnings of 26 cents per share. Not counting foreign exchange, revenue would have climbed 5%,

Key metrics from Halliburton’s earnings report

Halliburton’s net earnings were 6 cents per share, compared to 91 cents per share in the same quarter a year ago.

Halliburton reported Completion and Production revenue of $3.4 billion, a 19% year over year decline from the first quarter. Revenue from Drilling and Evaluation declined 12% quarter over quarter to $2.5 billion.

The company’s North American revenue declined 25% sequentially but significantly outperformed the 40% decline in average rig count. Eastern Hemisphere revenue fell slightly, but profitability in Europe/ Africa CIS rose. In Latin America, Halliburton noted a sequential decline in revenue and operating income, mostly because of currency impacts in Venezuela.

Halliburton continues to move forward with the proposed acquisition of Baker Hughes and remains committed to closing it.

Key metrics from Hasbro’s earnings report

Hasbro reported that revenues in the Preschool and Boys categories both increased. Not counting foreign exchange, revenue in five of the seven franchise brands increased. In the U.S. and Canada, the toy maker saw net revenues increase 1% to $385.3 million, while international revenue declined 9% to $362.8 million. Entertainment and Licensing revenue was $47.6 million.

Revenue from Hasbro’s Boys category increased 1% to $340.4 million, while Games revenue declined 6% to $211.6 million. Preschool revenue climbed 14% to $118.1 million, while the Girls category saw revenue plunge 22% to $127.5 million. Furby drove most of the decline in the Girls category.

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About the Author

Michelle Jones
Michelle Jones 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. Michelle has been with ValueWalk since 2012 and is now our editor-in-chief. Email her at Mjones@valuewalk.com.

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