Why Halliburton Shares Are Sliding Today
Portfolio Pulse from Akanksha Bakshi
Halliburton Company (NYSE:HAL) reported Q2 FY23 revenue growth of 14.3% YoY to $5.798 billion, missing the consensus of $5.86 billion. Adjusted EPS was $0.77, beating the consensus of $0.75. Operating income increased to $1.01 billion, and the margin expanded to 17.44%. The company repurchased $248 million of common stock. Total cash flows provided by operating activities year-to-date totaled $1.17 billion. HAL shares are trading lower by 1.60% at $37.50 premarket on Wednesday.
July 19, 2023 | 12:53 pm
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Halliburton's Q2 FY23 revenue missed expectations, but EPS beat consensus. The company repurchased $248 million of common stock. Shares are down 1.60% premarket.
Halliburton's Q2 revenue missed the consensus, which could negatively impact investor sentiment and drive the stock price down. However, the company beat EPS estimates and repurchased a significant amount of common stock, which could offset some of the negative impact. Despite this, shares are trading lower premarket, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100