Halliburton Analysts Lower Their Forecasts After Q3 Results
Portfolio Pulse from Avi Kapoor
Halliburton Company (NYSE:HAL) reported worse-than-expected Q2 2024 revenue results, missing consensus estimates. Despite flat Q/Q revenue in key segments, international revenue saw a slight increase. Analysts have lowered their price targets, leading to a 5.6% drop in share price.
July 22, 2024 | 1:23 pm
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Halliburton reported Q2 2024 revenue of $5.833 billion, missing the consensus of $5.949 billion. EPS was in line with expectations. Despite flat Q/Q revenue in key segments, international revenue increased slightly. Analysts have lowered their price targets, leading to a 5.6% drop in share price.
The revenue miss and subsequent lowering of price targets by analysts have negatively impacted investor sentiment, resulting in a 5.6% drop in Halliburton's share price. The flat Q/Q revenue in key segments and slight increase in international revenue were not enough to offset the negative impact of missing revenue estimates.
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