Halliburton Expected To Report Worst Quarter In At Least 5 Years
Halliburton Company (NYSE: HAL) will announce its second quarter financial results before the market opens on Monday, and expectations point toward the weakest quarter in at least five years.
The Street is modeling consensus earnings of $0.29 per share on revenue of $5.875 billion. The crowd is slightly less bearish, and projects consensus earnings of $0.32 per share on revenue of $5.912 billion.
These figures compare to earnings of $0.91 per share on sales of $8.051 billion reported in the second quarter of 2014, and earnings of $0.49 per share on revenue of $7.05 billion made in the latest quarter.
Setting The Tone
In a recent article, TD Ameritrade analyzed Halliburton before the earnings report. According to the note, analysts are expecting earnings of $0.30 per share on revenue of $5.8 billion, “well off the year-ago period's record $8.1 billion topline and following a steep decline in first-quarter results.”
The firm adds that if Halliburton beats expectations, “which many expect it will, it will offer deeper insight into the recovery of the struggling oil-rigging business.”
In its first-quarter release, the company noted that "Industry prospects will continue to be challenged in the coming quarters, and visibility to the ultimate depth and length of this cycle remains uncertain."
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