Halliburton's Q2 Revenue Miss Highlights Challenges In US Market, Despite International Gains
Portfolio Pulse from Lekha Gupta
Halliburton (NYSE: HAL) reported Q2 2024 revenue of $5.833 billion, missing the consensus estimate of $5.949 billion. Despite international gains, the company faced challenges in the US market, leading to a 4.53% drop in its share price. Investors can also gain exposure through VanEck Oil Services ETF (NYSE: OIH) and iShares U.S. Oil Equipment & Services ETF (NYSE: IEZ).
July 19, 2024 | 1:03 pm
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NEGATIVE IMPACT
Halliburton reported Q2 2024 revenue of $5.833 billion, missing the consensus estimate of $5.949 billion. Despite international gains, the company faced challenges in the US market, leading to a 4.53% drop in its share price.
The revenue miss and challenges in the US market have led to a significant drop in Halliburton's share price. Despite international gains, the overall performance did not meet investor expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
iShares U.S. Oil Equipment & Services ETF (IEZ) may experience a short-term impact due to Halliburton's revenue miss and share price decline, as Halliburton is a key holding in the ETF.
IEZ includes Halliburton as a significant holding, and the revenue miss and share price decline of Halliburton could negatively affect the ETF's short-term performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
VanEck Oil Services ETF (OIH) may see a short-term impact due to Halliburton's revenue miss and subsequent share price drop, as Halliburton is a significant component of the ETF.
OIH holds a significant position in Halliburton, and the revenue miss and share price drop of Halliburton could negatively impact the ETF's performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50