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Weaker U.S. Fracking Drags Halliburton Earnings Below Estimates

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Earnings,Drilling,Oil Prices

Halliburton Company missed analyst estimates for its third-quarter earnings as weaker North American revenues combined with the impact of an August cyberattack and hurricanes in the U.S. Gulf of Mexico dragged profits down

Halliburton Company NYSE HAL missed analyst estimates for its third-quarter earnings as weaker North American revenues combined with the impact of an August cyberattack and hurricanes in the U.S. Gulf of Mexico dragged profits down. Halliburton, one of the world’s top three oilfield services providers and leader in the U.S. fracking services market, reported on Thursday adjusted net income per share of $0.73, below the analyst consensus estimate of $0.75. “We experienced a $0.

Yet, Miller said that “Our full year expectations for free cash flow and cash return to shareholders remain unchanged, and we expect both to accelerate in the fourth quarter.” Halliburton’s North America revenue fell to $2.4 billion for the third quarter, down by 4% sequentially and down from $2.6 billion compared to the third quarter of 2023. The company attributed the decline to “decreased pressure pumping services in U.S.

 

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