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2017-04-25 21:58:00

HALLIBURTON NET LOSS $32 MLN

HALLIBURTON NET LOSS $32 MLN

HALLIBURTONHalliburton Company (NYSE:HAL) announced  a loss from continuing operations of $32 million, or $0.04 per diluted share, for the first quarter of 2017. This compares to a loss from continuing operations for the fourth quarter of 2016 of $149 million, or $0.17 per diluted share. Adjusted income from continuing operations for the first quarter of 2017, excluding costs related to an early extinguishment of debt, was $34 million, or $0.04 per diluted share. This compares to adjusted income from continuing operations for the fourth quarter of 2016, excluding impairments and other charges and a class action lawsuit settlement, of $35 million, or $0.04 per diluted share.

"Our total company revenue was $4.3 billion, a 6% improvement sequentially, while operating income was $203 million for the quarter. North America activity increased rapidly during the first quarter, which was highlighted by our U.S. land revenue growth of nearly 30%, outperforming the sequential average U.S. land rig count growth of 27%. In the international markets, activity declines due to seasonality were exacerbated by the current cyclical headwinds," said Dave Lesar, CEO.

"First quarter revenue in North America increased 24% sequentially, significantly outperforming our largest peer. This result was primarily driven by increased activity in our pressure pumping and well construction product service lines. The first quarter is best described as one of change, but I love the opportunity that is developing in North America because our strategy is designed to take advantage of that opportunity," remarked Jeff Miller, President.

"Eastern Hemisphere revenue declined by 12% sequentially, due to seasonality, reduced activity and pricing pressure. While we believe that the first quarter represents the bottom in the Eastern Hemisphere rig count, the full year average for 2017 will likely be only marginally higher than the full year average for 2016.

"Latin America revenue increased by 8% sequentially. This increase was primarily due to improved activity levels in Brazil and Mexico. Although we are seeing improvement in certain basins, there are a variety of country specific headwinds that must be overcome for a meaningful recovery in this region.

"We are in the midst of a unique and challenging cycle with very different dynamics between the North American and international markets. We are the execution company. I am excited by the activity I see in North America and confident in our ability to manage through any challenges in the international markets," concluded Miller.

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Earlier:

 HALLIBURTON NET LOSS $149 MLN
2017, January, 24, 21:45:00

HALLIBURTON NET LOSS $149 MLN

Halliburton Company (NYSE:HAL) announced a loss from continuing operations of $149 million, or $0.17 per diluted share, for the fourth quarter of 2016.

 

 HALLIBURTON VS U.S.: SENSELESSLY
2016, May, 5, 18:05:00

HALLIBURTON VS U.S.: SENSELESSLY

Halliburton’s chief executive has blamed an increasingly difficult US regulatory climate for the collapse of his company’s $28bn bid for rival Baker Hughes, which was abandoned on Sunday.

 

 HALLIBURTON & BAKER HUGHES TERMINATION
2016, May, 3, 15:10:00

HALLIBURTON & BAKER HUGHES TERMINATION

“While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action,”

 

 HALLIBURTON CUTS 6,000 JOBS
2016, April, 24, 12:25:00

HALLIBURTON CUTS 6,000 JOBS

The company revenue in the first quarter fell to $4.2 billion, a 40 per cent decline from the first quarter of 2015. That’s in line with the average analyst estimate of $4.2 billion.

 

 HALLIBURTON CUTS 5,000 JOBS
2016, February, 28, 20:30:00

HALLIBURTON CUTS 5,000 JOBS

Halliburton Co., which provides well-drilling services for oil companies, is cutting 5,000 more jobs as the industry continues to struggle with slumping oil prices.

 

 HALLIBURTON & BAKER HUGHES PROBLEMS: $35 BLN
2015, December, 11, 19:35:00

HALLIBURTON & BAKER HUGHES PROBLEMS: $35 BLN

Halliburton and Baker Hughes, which do the physical work of drilling wells and extracting oil and natural gas for energy companies, trail only Schlumberger Ltd. in the marketplace.

 

 HALLIBURTON CUTS 2,000 JOBS
2015, September, 27, 19:35:00

HALLIBURTON CUTS 2,000 JOBS

Halliburton Co., the world’s second-largest oilfield services provider, has cut 2,000 more jobs, mostly in North America, the region hardest hit by the crude collapse.

Tags: HALLIBURTON